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Problem 7-23 Compute Bond Price (LG7-4) Calculate the price of a 5.7 percent coupon bond with 18 years left to maturity and a market interest

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Problem 7-23 Compute Bond Price (LG7-4) Calculate the price of a 5.7 percent coupon bond with 18 years left to maturity and a market interest rate of 5.6 percent. (Assume interest payments are semiannual.) (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Bond price Is this a discount or premium bond? discount bond premium bond

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