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Canada Call Provision Evergreen Industries previously issued a 1 0 - year, 6 % coupon rate bond, semiannual payments, with a par value of $

Canada Call Provision Evergreen Industries previously issued a 10-year, 6% coupon rate bond, semiannual payments, with a par value of $1,000. It is callable at any time, with the call price based on a 10-year Government of Canada (GoC) bond yield at the time of the call +0.50%. Assume the company calls the bonds with 7 years remaining to maturity. The 10-year GoC bond yield is 2% at the call date. What would be the call price for these bonds? ( I think that N=6 since the number of years befores the first call date is 3 and since this has semiannual compounding 3*2=6. If this is wrong please let me know. PLEASE SHOW ALL STEPS AND REASONING.)

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