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Problem 10-3 A bond has a coupon rate of 11 percent and 5 years until maturity. If the yield to maturity is 10.1 percent, what

Problem 10-3

A bond has a coupon rate of 11 percent and 5 years until maturity. If the yield to maturity is 10.1 percent, what is the price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Price of the bond $

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