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1.) Consider a Bank of America (BAC) bond that has a 6% coupon rate and pays annual coupons. The bond has 11 years to
1.) Consider a Bank of America (BAC) bond that has a 6% coupon rate and pays annual coupons. The bond has 11 years to maturity and the yield to maturity is 8%. If this BAC bond has a face value of $10,000, what is the current price of the bond? PMT= 600
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
13th International Edition
1265533199, 978-1265533199
