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Bonds make semiannual payments

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Harrison Co. issued 14-year bonds one year ago at a coupon rate of 6.9 percent. The bonds make semiannual payments.

If the YTM on these bonds is 5.5 percent, what is the current dollar price assuming a $1,000 par value? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Current bond price $ ________

Reference no: EM131947688

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