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An 8.5%, five-year bond yields 6.4%. If the yield remains unchanged, what will be its price one year hence? Assume annual coupon payments. (Do not
An 8.5%, five-year bond yields 6.4%. If the yield remains unchanged, what will be its price one year hence? Assume annual coupon payments. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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