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Chapter 20 Problem 20 (1).doc
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[QUESTION] [Problem 20.1] Gillis Manufacturing Company has in its capital structure $20 million of 13.5 percent sinking-fund debentures. The sinking-fund call price is $1,000 per bond, and sinking-fund payments of $1 million in face amount of bonds are required annually. At present, the yield to ma...
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