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1 ) Reliance Corporation s outstanding bonds have a $ 1 , 0 0 0 par value, a 6 % semiannual coupon, 9 years to

1)

Reliance Corporation

s outstanding bonds have a $

1, 000

par value, a

6 %

semiannual coupon,

9

years to maturity, and an

8.5 %

YTM

.

What is the bond

s price?

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