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A bond has a face value of $1,000, 16 years to maturity, a coupon of 11% per annum, and a yield to maturity of
A bond has a face value of $1,000, 16 years to maturity, a coupon of 11% per annum, and a yield to maturity of 9%. a. What is the current price of the bond? [7 marks] b. Is the bond priced at a premium, a discount, or at par? [1 mark]
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Corporate Finance Core Principles And Applications
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan
6th Edition
1260571122, 978-1260571127
