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Problem 2 Ittihad Corporation has just issued 30-year bonds at a coupon rate of 6.9%. The bonds make semi-annual payments. If the YTM (i.e., yield

Problem 2

Ittihad Corporation has just issued 30-year bonds at a coupon rate of 6.9%. The bonds make semi-annual payments. If the YTM (i.e., yield to maturity) on these bonds is 5.2%, what is the current bond price?

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