Jessica is planning to sell a bond

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Jessica is planning to sell a bond that she bought 6 years ago and at the time it had 10 years to maturity. The bond has a $1000 face value and pays a coupon of 10% on a semiannual basis. Similar bonds in the current market will nominally yield 12%. What will be the price that she will get for his bond? (Nearest dollar)

Reference no: EM13850753

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