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8) A $ 1,000 face value, 6.8 % coupon, State of California bond with 18 years to run until maturity is currently priced to yield

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8) A $ 1,000 face value, 6.8 % coupon, State of California bond with 18 years to run until maturity is currently priced to yield investors 6.5 % compounded semi-annually until maturity. How much lower would the bond's price have to be to make the yield to maturity 7 % compounded semi-annually

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