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An investor purchases a 10-year, 8% annual coupon bond at $85.503075 and sells it in eight years. The bonds yield to maturity is 10.40% but
An investor purchases a 10-year, 8% annual coupon bond at $85.503075 and sells it in eight years. The bonds yield to maturity is 10.40% but rises to 10.80% right after the bond is bought. What is the sale price of the bond?
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