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1 point) A 11-year bond with a face value of 1000 dollars is redeemable at par, pays coupons at 4.6 percent per 6 months, and

image text in transcribed 1 point) A 11-year bond with a face value of 1000 dollars is redeemable at par, pays coupons at 4.6 percent per 6 months, and has a yield rate of 7.7 percent convertible semiannually. Suppose the book value immediately after the payment of the 6th coupon s equal to the price of a perpetuity (at the time of the 6th coupon) that will start making annual payments one year after the 6th coupon. If the perpetuity earns interest at 3.7 percent effective, how large is each perpetuity payment? Answer = dollars

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