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3. A $1,000 par-value bond is redeemable at a price of $1,020 on 1 December 2024 . It has a coupon rate of 13%, convertible

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3. A $1,000 par-value bond is redeemable at a price of $1,020 on 1 December 2024 . It has a coupon rate of 13%, convertible semiannually. The bond is bought on 1 June 2019 and the yield to maturity is 12%, compounded semiannually. (a) Calculate the purchase price of the bond on 1 June 2019. (b) Construct an excerpt of the bond amortization schedule, showing the split of the coupons from 1 June 21 to 1 June 2022 into interest and the writing up/off of the bond

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