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Crane Corp. issued a four-year bond one year ago with a coupon rate of 6.0 percent. The bond pays interest semiannually. If the yield to

Crane Corp. issued a four-year bond one year ago with a coupon rate of 6.0 percent. The bond pays interest semiannually. If the yield to maturity on this bond is 13 percent, what is the price of the bond? (Round answer to 2 decimal places, e.g. 5,275.25.)

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Advanced Engineering Mathematics

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