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NOTE: PLEASE USE EXCEL FOR EXCEL FORMULA 9. The River Corp. issues a bond with a par value of $1,000. The bond will mature in

NOTE: PLEASE USE EXCEL FOR EXCEL FORMULA

9. The River Corp. issues a bond with a par value of $1,000. The bond will mature in 10 years and has a coupon rate of 5% paid annually. If the yield to maturity is 8%, what is the current price of the bond?

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