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Question 17 A mortgage-backed bond has a par value of $40,000, and an annual coupon of 6%. The maturity is 10 years, and the market

Question 17 A mortgage-backed bond has a par value of $40,000, and an annual coupon of 6%. The maturity is 10 years, and the market interest rate is 12%. What is the sales price for this bond? (6 points)

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