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Amy wants to purchase a 10-year bond that has a par value of $1,000 and makes semiannual interest payments of $60. If her required yield

Amy wants to purchase a 10-year bond that has a par value of $1,000 and makes semiannual interest payments of $60. If her required yield to maturity is 13%, how much should she be willing to pay for the bond?

a. $929

b. $945

c. $1000

d. $642

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