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You bought a ten-year, 6.5% annual coupon bond today and the current market rate of return is 4%. The bond is callable in four years
You bought a ten-year, 6.5% annual coupon bond today and the current market rate of return is 4%. The bond is callable in four years with a $50 call premium. The par value is $1,000. What price did you pay for your bond? (Do not enter dollar sign or comma. Enter your answer to nearest cent as XXXX.XX)
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