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Colton Corporation's semiannual bonds have a 12 -year maturity, an 9.10% nominal coupon paid samiannually. and sell at their $1,000 par value. The firm's anyal

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Colton Corporation's semiannual bonds have a 12 -year maturity, an 9.10% nominal coupon paid samiannually. and sell at their $1,000 par value. The firm's anyal bonds have the same risk, maturity, nominal interest rate, and par value, but these bonds pay interest annu ther bond it callable. To provide the same effective annual yield (EFF\%), at what price should the annuilravinant bon Hint Calculate the EFF\& for the semiannual b oupon rate, and then use it as the YTM for the annual payment bond, Recall that EFF\% =[1+ (Nomi ()]n=1 Your answer should be between 980.00 and 1000.00 , rounded to 2 decimal places, with no special characters. Note that the annual payment bond must sell for less than par since it receives the same cash flow. but not as quickly

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