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What is the current price of a $1000 par value bond maturing in 10 years with a coupon rate of 16%, paid semiannually? Assume the

What is the current price of a $1000 par value bond maturing in 10 years with a coupon rate of 16%, paid semiannually? Assume the bond has a YTM of 13% p.a.

  1. $604

  2. $950

  3. $1,165

  4. $1,200

  5. $1,030

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