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3. ABC Corporation has issued bonds for 6 years. The face value of the bond is $1000 and YTM associated with the bond is 8%.

3. ABC Corporation has issued bonds for 6 years. The face value of the bond is $1000 and YTM associated with the bond is 8%. The coupon rate is 6%. Calculate present value of the bond. Also calculate the current yield of the bond.

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