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Two years ago, Ace Company issued a 20-bond with a 9.00 percent coupon rate. What is the price of the bond today if it is

Two years ago, Ace Company issued a 20-bond with a 9.00 percent coupon rate. What is the price of the bond today if it is expected to yield 6.5 percent? (Assume semi-annual interest payments and $1,000 par value.) Calculate the current bond price.

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