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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 12 years Coupon rate: 7 percent Semiannual payments What is the

Microhard has issued a bond with the following characteristics:

Par: $1,000

Time to maturity: 12 years

Coupon rate: 7 percent

Semiannual payments

What is the price of this bond if the YTM:(Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

a. 7% $____Price of the bond

b. 9% $____Price of the bond

c. 5% $____Price of the bond

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