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Cassies Collectibles has a bond with a $1,000 face value and 6.54% coupon interest paid semi-annually. This bond matures in 12 years and has a

Cassies Collectibles has a bond with a $1,000 face value and 6.54% coupon interest paid semi-annually. This bond matures in 12 years and has a yield to maturity of 4.56%. What is the market price of the bond?

  1. $957.21

  2. $1,157.59

  3. $1,181.44

  4. $1,193.21

  5. None of the above is correct.

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