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23 #2 Assume a par value of $1,000. Caspian Sea plans to issue a 14.00 year, semi-annual pay bond that has a coupon rate of

23 #2

Assume a par value of $1,000. Caspian Sea plans to issue a 14.00 year, semi-annual pay bond that has a coupon rate of 8.18%. If the yield to maturity for the bond is 7.85%, what will the price of the bond be?

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