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Correct answer provided. Need Steps. Question 4 0 out of 10 points Emacs Co. issued 13-year, $1,000 face value bonds one year ago at a

Correct answer provided. Need Steps.
Question 4 0 out of 10 points Emacs Co. issued 13-year, $1,000 face value bonds one year ago at a coupon rate of 5.7 percent. The bonds make semiannual payments. If the YTM on these bonds is 8.7 percent, what is the current bond price? Selected Answer: 862.01 779.28 1% Correct Answer: Response Use the bond pricing equation to solve for the price. Feedback: Remember to adjust for the semiannual frequency of the coupon payments, and be careful to note the number of years remaining to maturity

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