YNB Ltd. acquired Pty Ltd. 10 years ago. In order to fund this acquisition, YNB Ltd issued a bond. Currently it has an outstanding amount of $50,000,000 with maturity in 2 years. The bond has a coupon rate of 5% (payable annually). Which of the following is closest to the current price of the bond given the YTM is 7%?
$45,948,555
$48,191,982
$50,000,000
$49,000,000
???
2 answers