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Jay Pritchett wants to buy a U.S. government Treasury bond that has 15 years remaining until maturity.The coupon rate is 6% per year and is

Jay Pritchett wants to buy a U.S. government Treasury bond that has 15 years remaining until maturity.The coupon rate is 6% per year and is paid outsemiannually.The face or par value of the bond is $100,000.The current yield-to-maturity (YTM) of this bond is 5%.Calculate (1) the current market price of this bond, and (2) the new price if the required YTM rises from 5% to 6% due to a market change in bond interest rates.

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