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Q 3 . Rock, Inc. has a 6 % coupon bond that matures in 1 1 years. The bond pays interest quarterly. What is the

3 .

Rock, Inc. has a

6 %

coupon bond that matures in

11

years. The bond pays interest quarterly. What is the market price of a $

1, 000

face value bond if the yield to maturity is

6 % ? (2 %)

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