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An investor purchases a 1, 000 bond redeemable at par that pays 8% semiannual coupons and matures in 10 years. The bond will yield 7%

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An investor purchases a 1, 000 bond redeemable at par that pays 8% semiannual coupons and matures in 10 years. The bond will yield 7% convertible semiannually to maturity. If the bond is called in five years, the minimum redemption value the investor needs to realize the same yield is X. Determine X. A 1, 036 B 1, 042 C 1, 048 D 1, 054 E 1, 060

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