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A 10,000 par value bond with coupons at 8%, convertible semiannually, is being sold three years and four months before the bond matures. The purchase
A 10,000 par value bond with coupons at 8%, convertible semiannually, is being sold three years and four months before the bond matures. The purchase will yield 6% convertible semiannually to the buyer. The price at the most recent coupon date, immediately after the coupon payment, was 5,640.
Calculate the market (quoted) price of the bond.
Possible Answers
A
5,486
B
5,520
C
5,540
D
5,560
E
5,696
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