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ABC Inc. recently issued $ 1 , 0 0 0 par bonds at a 1 7 . 8 2 % coupon rate. If the bonds

ABC Inc. recently issued $

1, 000

par bonds at a

17.82 %

coupon rate. If the bonds have

18

years to maturity and a YTM of

4.13 %,

what is the current price of the bond? Assume semi

-

annual compounding.

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