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Westco Company issued 22-year bonds 5 years ago at a coupon rate of 7.49 percent. The bonds make semiannual payments and have a par value
Westco Company issued 22-year bonds 5 years ago at a coupon rate of 7.49 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 8.55%, what is the current price of the bond in dollars? Do not include a $ in your
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