Coupon rate convertible semiannually

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A ten year $1,000 bond has a 10% coupon rate convertible semiannually. It is callable at any time after a two-year lockout period. An investor wishes to buy the bond to yield at least 8% convertible semiannually. What is the price which will yield at least 8% convertible semiannually?? Please show work and steps without excel or financial calculator.

Reference no: EM132039799

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