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You are a bond trader and have learned that Concordia University will be making a new issuance of bonds paying a single 3.4% annual coupon

  1. You are a bond trader and have learned that Concordia University will be making a new issuance of bonds paying a single 3.4% annual coupon on $1000 face value bonds that will mature in 5 years. You estimate that the proper discount rate for this bond is 3%, what is the maximum price youd be willing to pay for each bond?

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