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Yan Yan Corporation has a $3,000 par value bond outstanding with a coupon rate of 5 percent paid semiannually and 14 years to maturity. The
Yan Yan Corporation has a \$3,000 par value bond outstanding with a coupon rate of 5 percent paid semiannually and 14 years to maturity. The yield to maturity on this bond is 3.9 percent. What is the dollar price of the bond? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16
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