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With 15 years left to maturity, a corporate bond has a 5.75% coupon. The YTM is 6.25%. The credit rating just increased, the new discount
With 15 years left to maturity, a corporate bond has a 5.75% coupon. The YTM is 6.25%. The credit rating just increased, the new discount rate is 6%. How much will this change the price of the bond in dollars? (par value is $1,000 and coupon payments are semi-annual) (format answer as $1,234.56)
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