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6) Five years ago, UMPI Corporation issued a 10% coupon (paid annually), 25-year, AA bond at its par value of $1,000. Currently, the yield to
6) Five years ago, UMPI Corporation issued a 10% coupon (paid annually), 25-year, AA bond at its par value of $1,000. Currently, the yield to maturity on these bonds is 12%. Calculate the price of the bond today.
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