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3. Dexter Mills issued 30-year bonds one year ago at a coupon rate of 9.1 percent. The bonds make semiannual payments and have a par

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3. Dexter Mills issued 30-year bonds one year ago at a coupon rate of 9.1 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM is 8.5 percent, what is the current bond price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) 4. The 7.2 percent bonds issued by Modern Kitchens pay interest semiannually, mature in eight years, and have a $1,000 face value. Currently, the bonds sell for $980. What is the yield to maturity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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