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A 2 0 - year bond matures for its par value of $ 1 0 , 0 0 0 . The coupon payable semi -

20 -

year bond matures for its par value of $

10, 000 .

The coupon payable semi

-

annually is $

400 .

Calculate the price of the bond at a

6 %

yield rate convertible semi

-

annually.

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