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Six years ago, Lyon Capital Group issued a 26-year bond with a face value of $1,...
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Six years ago, Lyon Capital Group issued a 26-year bond with a face value of $1,000. The bond pays an annual coupon of 4.7%, and it will be redeemed at maturity at a 1.6% premium. If the bond’s current yield to maturity is estimated at 8.83%, the current price of the bond is closest to:
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