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6. Pitney Bowes recently issued a 30 year bond with a yield to maturity of 7%. The bonds sold for par or face value of

6. Pitney Bowes recently issued a 30 year bond with a yield to maturity of 7%. The bonds sold for par or face value of $1000. What was the coupon payment on these bonds? If the yield on the bond falls to 6.5% in 20 years, what will be the price of the bond in 20 years? 10 points

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