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Consider a bond with a 12 percent coupon and 20 years to maturity. The current required rate of return for this bond is 15 percent.

Consider a bond with a 12 percent coupon and 20 years to maturity. The current required rate of return for this bond is 15 percent. What is its price? What would be its price if the required yield rose to 17 percent and 20 percent.

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