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Compute the price of a $ 4,767 par value, 16 percent coupon consol, or perpetual bond (i.e., coupon interest payment is a perpetuity), assuming that

Compute the price of a $ 4,767 par value, 16 percent coupon consol, or perpetual bond (i.e., coupon interest payment is a perpetuity), assuming that the yield to maturity on the bond is 11 percent. (Round your answer to 2 decimal places and record without dollar sign or commas). Solve using financial calculator

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