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Many years ago, Castles in the Sand Incorporated issued bonds at face value at a yield to maturity of 6 . 8 % . Now,
Many years ago, Castles in the Sand Incorporated issued bonds at face value at a yield to maturity of Now, with years left until the maturity of the bonds, the company has run into hard times and the yield to maturity on the bonds has increased to What is now the price of the bond? Assume semiannual coupon payments.
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