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Union Hospital has a bond outstanding with a coupon rate of 9.48 percent paid semiannually and 3 year to maturity. The yield to maturity on
Union Hospital has a bond outstanding with a coupon rate of 9.48 percent paid semiannually and 3 year to maturity. The yield to maturity on this bond is 8.6 percent, and the bond has a par value of $5,000. What is the price of the bond?
Omit $ dollar sign and commas in your response. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16).
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