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Even though in the U.S. coupons are paid semi-annually, abroad coupons are paid annually. Suppose a German company issues bond with par value of Euro

Even though in the U.S. coupons are paid semi-annually, abroad coupons are paid annually. Suppose a German company issues bond with par value of Euro 1,000, 23 years to maturity and a coupon rate of 3.8% paid annually. If the YTM is 4.7 per cent, what is the current price of the bond

675.09
825.09
875.09

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