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Posted on May 19, 2024

Birchip Wood Chip Ltd issued 1 5 - year bonds one year ago at a coupon rate of 4 . 8 % . The bonds

Birchip Wood Chip Ltd issued

15 -

year bonds one year ago at a coupon rate of

4.8 % .

The bonds have a face value of $

1, 000

and make half

-

year payments. If the YTM on these

bonds is

5.3 %,

what is the current bond price?

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