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5. The Phillips Fabricating Company has $1,000 par, 9 percent coupon bond on the market. The bond makes annual coupon payments. If the bond requires

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5. The Phillips Fabricating Company has $1,000 par, 9 percent coupon bond on the market. The bond makes annual coupon payments. If the bond requires a current yield of 7.78% I and sells at a price of $1,070.60, how many years are left to maturity? 6. BONUS What is the value at maturity of a ten-year $100,000 par value bond with a 6.00% coupon, currently priced at $98,700.34

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