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You bought a 23-year, 7.6% semi-annual coupon bond today and the current market rate of return is 8%. The bond is callable in 4 years
You bought a 23-year, 7.6% semi-annual coupon bond today and the current market rate of return is 8%. The bond is callable in 4 years with a $1072 call premium. What price did you pay for your bond? (Show your answer to nearest cent with no comma. For example $1,378.565 is entered as 1378.57)
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