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Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German Company

Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German Company issues a bond with a par value of Euro 1,000,9 years to maturity, and a coupon rate pf 7.6 percent paid annually. If the YTM is 9.6 percent, what is the current bond price in euros?

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