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Compute the price of a 4 . 8 percent coupon bond with 1 0 years left to maturity and a market interest rate of 7

Compute the price of a 4.8 percent coupon bond with 10 years left to maturity and a market interest rate of 7.4 percent. (Assume interest payments are semiannual.)

Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.

Is this a discount or premium bond?


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