What is the price of a three-year, default-free security with a face value of $1000 and an

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What is the price of a three-year, default-free security with a face value of $1000 and an annual coupon rate of 4%? What is the yield to maturity for this bond?

assume zero-coupon yields on default-free securities are as summarized in the following table:Appendiximage text in transcribed

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Corporate Finance

ISBN: 9780137845071

6th Edition

Authors: Jonathan Berk, Peter DeMarzo

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