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Question 2: Time: 15 minutes Total: 10 marks Vikram Inc. offers an 8.75% coupon bond with annual payments. The yield to maturity is 8.89% and

Question 2: Time: 15 minutes Total: 10 marks Vikram Inc. offers an 8.75% coupon bond with annual payments. The yield to maturity is 8.89% and the maturity date is 10 years from today. What is the market price of this bond if the face value is $1,000? Show the calculations in detail

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