A Ford Motor Co. coupon bond has a coupon rate of 6.55 %, and pays annual coupons.
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Question:
A Ford Motor Co. coupon bond has a coupon rate of 6.55%, and pays annual coupons. The next coupon is due tomorrow and the bond matures 34 years from tomorrow. The yield on the bond issue is 6.1%. At what price should this bond tradetoday, assuming a face value of $1,000? The price of the bond today should be? (rounded to the nearest cent)
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