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Problem 7-13 Price and yield A 7% semiannual coupon bond matures in 6 years. The bond has a face value of $1,000 and a current

Problem 7-13 Price and yield

A 7% semiannual coupon bond matures in 6 years. The bond has a face value of $1,000 and a current yield of 7.7902%.

a. What is the bond's price? Do not round intermediate calculations. Round your answer to the nearest cent.

b. What is the bond's YTM? Do not round intermediate calculations. Round your answers to two decimal places.

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