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Essex Biochemical Company has a $ 1 , 0 0 0 par value bond outstanding that pays 1 4 percent annual interest. The current yield
Essex Biochemical Company has a $ par value bond outstanding that pays percent annual interest. The current yield to maturity on such bonds in the market is percent. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.
Compute the price of the bonds for the maturity dates:
Note: Do not round intermediate calculations. Round your final answer to decimal places. Assume interest payments are annual.
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