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XYZ , Inc. has a bond outstanding with a par value of $ 1 0 , 0 0 0 that makes monthly coupon payments. The

XYZ

,

Inc. has a bond outstanding with a par value of $

10, 000

that makes monthly coupon

payments. The coupon rate is

9

percent, and the bond has

24

years remaining to maturity. If the

yield to maturity of similar bonds is

9.35

percent, what is the current price of the bond? ANSWER WITH EXCEL

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