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Firm Z issued 18-year bonds 4 years ago at a coupon rate of 8.09 percent. The bonds make semiannual payments. If the YTM on these

Firm Z issued 18-year bonds 4 years ago at a coupon rate of 8.09 percent. The bonds make semiannual payments. If the YTM on these bonds is 8.57 percent, what is the current bond price? Answer to two decimals.

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