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Bulldog Bonds share all but one feature with plain old ordinary vanilla coupon bonds. There is only one difference. A Bulldog Bond pays two extra
Bulldog Bonds share all but one feature with plain old ordinary vanilla coupon bonds. There is only one difference. A Bulldog Bond pays two extra coupons after the face value maturity date. Suppose there is a Bulldog Bond with 12 years to the face value maturity date. Its coupon rate is 8 percent and its yield to maturity is 6.4 percent. This Bulldog Bond makes two coupon payments per year. What is the price of this Bulldog Bond? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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