A manufacturing division has an average of $1,800,000 invested in assets and earned income of $720,000. The division's return on
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<u>Solution and explanation:</u>
<u>Given data: </u>
Ask price: 98.4062, bid price: 98.2812, par value of the bond: $10,000
<u>The following formula is used in order to calculate the actual value of the bond </u>
The ask price will be used while calculating the actual value of the bond and the par value of the bond will be used
Ask price will be multiplied with par value of the bond and divided by 100
= $9840.62
Therefore, the par value as per the above calculation is $9840.62