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Question 4 : A $ 1 , 0 0 0 Bronson Corp. bond has a coupon rate of 7 % with semiannual payments, matures in

Question

4

: A $

1, 000

Bronson Corp. bond has a coupon rate of

7 %

with semiannual payments, matures in

15

years, and has a yield to maturity of

6.7 % .

What is the bond's current price?

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