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una Crow Corporation issued bonds 10 years ago at $1,000 per bond. The bonds had a 30 -year life when issued, with semiannual jayments at
una Crow Corporation issued bonds 10 years ago at $1,000 per bond. The bonds had a 30 -year life when issued, with semiannual jayments at the then annual rate of 9 percent. This return was in line with the required returns by bondholders at that point, as Jescribed below: Assume that today the inflation premlum is only 1 percent and is appropriately reflected in the required return (or yield to maturity) of the bonds. Compute the new price of the bond. (Use of Financial calculator/Excel to orrive at the answers. Do not round intermediate caleulations. Round the final onswer to 2 decimal places.) New price of the bond
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