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17. Ford is about to issue a new corporate bond, face value $1,000, coupon rate-7y% (anal). term to the maturity 5 years. You know that

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17. Ford is about to issue a new corporate bond, face value $1,000, coupon rate-7y% (anal). term to the maturity 5 years. You know that a very similar bond issued by GM is already being traded in a bond market with its market price of $1015, face value-$1,000, coupon rate 6% (annual) and term to the maturity 5 years. What would be the appropriate value of Ford's new corporate bond? (Assume number) that coupons are paid annually for Ford and GM bonds, closest a $1,032.37 b. $1,047.20 c. $1,057.53 d. $1,064.21

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