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Assume that you are considering the purchase of 20 yea, noncallable bond with an annual coupon rate of 860 percent. The band has a face

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Assume that you are considering the purchase of 20 yea, noncallable bond with an annual coupon rate of 860 percent. The band has a face value of $1,000 and makes semiannual interest payments. If you require an 8.80 percent nominal yeld to maturity on this investment, what is the maximum price you should be willing to pay for the bond? Multiple Choice 2930 0.95 39952 592675 598133 599060

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