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Cullumber 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

Cullumber 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 9 percent, what is the price of the bond?

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