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Assume that you want to buy a bond with a maturity of 30 years, an annual coupon rate of 10 percent, a face value of
Assume that you want to buy a bond with a maturity of 30 years, an annual coupon rate of 10 percent, a face value of $1,000, and semiannual interest payments. If you require a 12 percent yield to maturity on this investment, what is the maximum price you would be willing to pay for the bond?
$838.39
$1,106.76
$1,102.74
$1,149.63
$905.35
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