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You have the opportunity to purchase a 9 -year, $1,000 par value bond that has an annual coupon rate of 8 %. If you require
You have the opportunity to purchase a 9 -year, $1,000 par value bond that has an annual coupon rate of 8 %. If you require a YTM of 7.4 %, how much is the bond worth to you?
The price of the bond is $ . (Round to the nearest cent.)
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