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Two year ago, firm MQ issued a 4-year bond with a par value of $1,000 and a coupon rate of 5%. Coupon payments are made
Two year ago, firm MQ issued a 4-year bond with a par value of $1,000 and a coupon rate of 5%. Coupon payments are made semi-annually. If the nominal interest rate is 5.5% per annum, calculate the current market price of the bond (after the coupon payment being made today). Round your results to two decimal places
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