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Compute the hammond company bond price today

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Reference no: EM132969816

Problem -

A: Hammond Companies issued a 30-year bond with a 2.34% coupon rate exactly 10 years ago. The yield to maturity on the bond on the issue date was 4.93%, but is now 2.96%. Compute the Hammond Company bond price today.

B: Identify whether the change in yield on the Hammond bond was the result of changes in interest rate risk or changes in default risk and explain your answer.

Reference no: EM132969816

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