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3. Julia purchased a 10-year 2000 par value bond with semiannual coupons at a nominal rate of 6% convertible semiannually priced to yield at least

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3. Julia purchased a 10-year 2000 par value bond with semiannual coupons at a nominal rate of 6% convertible semiannually priced to yield at least a nominal annual rate of 5% convertible semiannually. The bond can be called at par value on any coupon date starting at the end of year 7. Find the price of the bond

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