At what price should the investor buy the bond to get yield

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Reference no: EM132039786

A five year $1,000 bond has a 6% coupon rate convertible semiannually. It is callable in 2 years, in 3 years, and in 4 years. At what price should the investor buy the bond to get a yield of at least 6.2% convertible semiannually? Please show step-by-step solution without excel or financial calculator.

Reference no: EM132039786

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