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HLA Manufacturing Berhad has a series of bond with RM1,000 par value. Each bond pays interest semi-annually coupon rate of 6 percent. The required rate

HLA Manufacturing Berhad has a series of bond with RM1,000 par value. Each bond pays interest semi-annually coupon rate of 6 percent. The required rate of return on bonds is 12 percent. Determine the current price of bonds if the bonds will mature 5 years.

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