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Jeremy Kohn is planning to invest in a 5 - year bond that pays a 1 5 percent coupon. The current market rate for similar
Jeremy Kohn is planning to invest in a year bond that pays a percent coupon. The current market rate for similar bonds is percent. Assume semiannual coupon payments. What is the maximum price that should be paid for this bond? Do not round intermediate calculations. Round your answer to the nearest whole number.
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