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A company has a bond outstanding with a face value of $10000 that reaches maturity in 11 years. The bond certificate indicates that the stated

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"A company has a bond outstanding with a face value of $10000 that reaches maturity in 11 years. The bond certificate indicates that the stated coupon rate for this bond is 4.5 . and that the coupon payments are to be made semiannually. Assuming the appropriate VTM on the bond is 5%, then the price that this bond trades for will be closest to Note: Express your answers in strictly numerical terms. For example, if the answer is $500, write enter 500 as an

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