Calculate whta is the price of the bonds

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Reference no: EM132071329

Answer the following question

Renfro Rentals has issued bonds that have a 12.50% coupon rate, payable semiannually.

The bonds mature in 5 years, have a face value of $1,000, and a yield to maturity of 13.25%. What is the price of the bonds?

Reference no: EM132071329

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