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Microhard has issued a bond with the following characteristics:Par: $1,000Time to maturity:12 yearsCoupon rate: 7 percentSemiannual paymentsCalculate the price of this bond if the YTM
Microhard has issued a bond with the following characteristics:Par: $1,000Time to maturity:12 yearsCoupon rate: 7 percentSemiannual paymentsCalculate the price of this bond if the YTM is(Do not round intermediate calculations and round your answersto 2 decimal places, e.g., 32.16.):
Price of the Bond
a.7 percent$
b.9 percent$
c.5 percent$
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