Answer:
The issue price of the bond is $44,330,000
Explanation:
The issue price of the bond can be computed using the pv formula in excel,which is given as =-pv(rate,nper,pmt,fv)
rate is the semi-annual yield to maturity on the bond which is 7%/2=3.5%
nper is the number of coupon payments the bond would make before maturity,which 15 years multiplied by 2=30
pmt is the semi-annual interest payment of the bond i.e 8%/2*$40.6 million=$1.624 million
The fv is the face value of the bond repayable at maturity which is $40.6 million
=-pv(3.5%,30,1.624,40.6)
pv=$44.33 million
There are advantages to a movie studio operating in southern California
due to cheap labor and land and numerous scenery.
California is a state in which movie producers prefer operating in as a result
of cheap labor and land which helps to cut the cost needed for producing a
movie.
California also has a lot of scenery such as rivers, mountains etc which
makes the movies more appealing and is also where Hollywood is located
which is where most movie production and promotion takes place.
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D. A 30-minute walk each day provides health benefits for employees,
so we should start a walking group.
