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Calculate the current price of a $1,000 par value bond that has a coupon rate of 16 percent, pays coupon interest annually, has 22 years
Calculate the current price of a $1,000 par value bond that has a coupon rate of 16 percent, pays coupon interest annually, has 22 years remaining to maturity, and has a current yield to maturity (discount rate) of 5 percent. (Round your answer to 2 decimal places and record without dollar sign or commas) Step by Step Solution
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
13th edition
134472144, 978-0134472140
