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Problem 7-21 Compute Bond Price (LG7-4) Compute the price of a 6.5 percent coupon bond with 15 years left to maturity and a market interest

Problem 7-21 Compute Bond Price (LG7-4)

Compute the price of a 6.5 percent coupon bond with 15 years left to maturity and a market interest rate of 10.8 percent. (Assume interest payments are semiannual.) (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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