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Even though most corporate bonds in the United States makecoupon payments semiannually, bonds issued elsewhere often haveannual coupon payments. Suppose a German company issues a

Even though most corporate bonds in the United States makecoupon payments semiannually, bonds issued elsewhere often haveannual coupon payments. Suppose a German company issues a bond witha par value of 1,000, 15 years to maturity, and a coupon rate of 5.1 percent paid annually. If the yield to maturity is 4.3 percent, what is the current price of the bond

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