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Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below. Par Value $40.000

Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below.

Par Value

$40.000

Bond Rate Payable Semi-Annually

Time Before Redemption

6.5 years

Yield Rate

10%

Conversion Period: quarterly

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