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XYZ Corporation has a $1,000 par value, 10-year bond that pays 9% coupon interest per year paid semi-annually. If the current yield to maturity of
XYZ Corporation has a $1,000 par value, 10-year bond that pays 9% coupon interest per year paid semi-annually. If the current yield to maturity of similar risk bonds is 13.5%, what is the price of the bond? This is the correct answer ($756.93)
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