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Calculate the current price of a $1,000 par value bond maturing in 10 years with a coupon rate of 12 percent, paid semiannually, that has

Calculate the current price of a $1,000 par value bond maturing in 10 years with a coupon rate of 12 percent, paid semiannually, that has a YTM of 15 percent?

Select one:

a. $604

b. $847.08

c. $1,090

d. $1,073

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