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13. (6 points) Smith purchases a $1000 par value, ten ycar, 5% bond with semiannual coupons. Smith pays a price of P1. After six years,

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13. (6 points) Smith purchases a $1000 par value, ten ycar, 5% bond with semiannual coupons. Smith pays a price of P1. After six years, i.e., following the twelfth coupon, Smith sells the bond to Jones at a price of P2. Jones retains the bond to maturity. The yield rate on Smith's investment is 7% convertible semiannually. The yield rate on Jones's investment is 6% convertible semiannually. What is P

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