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A company has an outstanding bond that matures in 11 years. The bond has a coupo...
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A company has an outstanding bond that matures in 11 years. The bond has a coupon rate of 2.67 percent and is paid semiannually. If the bond’s yield to maturity is 3.49 percent, and the bond’s par value is $5,000, the fair price of the bond is:
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