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A corporate bond with a face value of $1,000 matures in 4 years and has an 8% coupon paid at the end of each year.
A corporate bond with a face value of $1,000 matures in 4 years and has an 8% coupon paid at the end of each year. What is the price of this bond if the yield to maturity is 10.15%? (15 points)
(Note that in this case we have annual coupon payments, not semi-annual)
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