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Great Barrier Reef Premier Investments is issuing a 12-year 8% Coupon Bond that has a face value of $1,000 and a yield to maturity of

Great Barrier Reef Premier Investments is issuing a 12-year 8% Coupon Bond that has a face value of $1,000 and a yield to maturity of 9%.

a) If the coupons are paid annually, what is the expected price of this Bond today?

b) How will the price of the Bond change if the coupons are paid every quarter?

c) What is the effect of frequency of coupon payments on Bond prices?

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