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Problem 13-06 Your broker offers to sell for $1,116 AAA-rated bond with a coupon rate of 7 percent and a maturity of seven years. Given

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Problem 13-06 Your broker offers to sell for $1,116 AAA-rated bond with a coupon rate of 7 percent and a maturity of seven years. Given that the interest rate on comparable debt is 5 percent, calculate the bond's pnce. Assume that the bond pays interest annualy. Use Appendix and Appendix D to answer the ouest on. Round your answer to the nearest dollar, Is your broker fairly pricing the bond? so the bond Ebe purchased

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