Question: A bond was issued for $1.000 with an 8% coupon and a 10-year term. If the term remaining to maturity is 5 years, and similar

A bond was issued for $1.000 with an 8% coupon and a 10-year term. If the term remaining to maturity is 5 years, and similar bonds have a yield-to-maturity of 6%, what is the present value (coupon principal) of the bond? Assume semi-annual coupon payments.

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