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Assume a company is willing to raise $50 million in bonds that mature in 5 years, what is the bond's price if local investors require
Assume a company is willing to raise $50 million in bonds that mature in 5 years, what is the bond's price if local investors require a yield to maturity of 5% on the bonds, and they are willing to buy these bonds from the local market (assume the par value of the bond is $5,000 and annual coupon payment = 5.2%). Please show all the steps
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