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A 10-year 4% $10,000 par value bond with a semi-annual coupon is offered. This bond is callable in 5 years at a call price of
A 10-year 4% $10,000 par value bond with a semi-annual coupon is offered. This bond is callable in 5 years at a call price of 10,200.00. What is then highest price an investor would be willing to pay for this bond if their required yield is 12%?
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