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An investor is considering three different bonds. Each bond has a par value of $1,000 and currently has a 8% annual yield to maturity. Here

An investor is considering three different bonds. Each bond has a par value of $1,000 and currently has a 8% annual yield to maturity. Here is the rest of the detailed information on each bond. I. A 10-year 10% annual coupon bond which pays coupon payments once per year. II. A 15-year 9% annual coupon bond which pays coupon payments twice per year. III. A 20-year 6% annual coupon bond which pays coupons 4 times per year. Now assume that you purchase Bond II and hold it for a year... during that year interest rates drop to 6%. Calculate the estimated price of the bond after you hold it for a year and market rates drop to 6%. (use two decimal places in your answer)

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