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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 12 years Coupon rate: 9 percent Semiannual payments Calculate the price

Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 12 years Coupon rate: 9 percent Semiannual payments

Calculate the price of this bond if the YTM is:

11%

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