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2. Valuing Bonds Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 20 years Coupon rate: 7 percent Semiannual payments

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2. Valuing Bonds Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 20 years Coupon rate: 7 percent Semiannual payments Calculate the price of this bond if the YTM is: a. 7 percent b. 9 percent c. 5 percent d 15ntear honds 2 years ago at a coupon rateof 5.9 percent. The

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