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You bought a 21-year, 4.3% semi-annual coupon bond today and the current market rate of return is 8.7%. The bond is callable in 5 years
You bought a 21-year, 4.3% semi-annual coupon bond today and the current market rate of return is 8.7%. The bond is callable in 5 years with a $1,075 call premium. What price did you pay for your bond? (Show your answer to nearest cent with no comma.
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