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Need detailed Answer Smith Company is about to issue a bond with semiannual coupon payments, a coupon rate of 8%, and par value of $1,000.

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Smith Company is about to issue a bond with semiannual coupon payments, a coupon rate of 8%, and par value of $1,000. The yield to maturity for this bond is 10% a. What is the price of the bond if the bond matures in fifteen or twenty years? b. What do you notice about the price of the bond in relationship to the maturity of the bond

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