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A 5 - year $ 1 , 0 0 0 par value bond has a coupon rate of 4 . 8 percent convertible semiannually. It

A 5-year $1,000 par value bond has a coupon rate of 4.8 percent convertible semiannually. It is callable at par anytime after year 3 and till the end of year 5. An investor wishes to buy the bond to yield 6 percent convertible semiannually.
Determine the purchase price of the bond.

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