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Spoleto company has a bond outstanding with a face value of $1000 that reaches maturity in 10 years. The bond certificate indicates that the stated
Spoleto company has a bond outstanding with a face value of $1000 that reaches maturity in 10 years. The bond certificate indicates that the stated coupon rate for this bond is 10% and that the coupon payments are to be made semiannually. Assuming the appropriate YTM on the Spoleto bond is 7.5%, then the price that this bond trades for will be closest to
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