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DONOT SOLVE BY EXCEL. A 10-year 6% $10,000 par value bond with a semi-annual coupon is offered. This bond is callable in 5 years at

DONOT SOLVE BY EXCEL.

A 10-year 6% $10,000 par value bond with a semi-annual coupon is offered. This bond is callable in 5 years at a call price of 10,250.00. What is then highest price an investor would be willing to pay for this bond if their required yield is 12%?

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