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Market price of burner bond

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Reference no: EM132142218

Buner Corp.'s outstanding bond has the following characteristics:

Years to maturity: 6.0 

Coupon rate of interest: 8.0%

Face value: $1,000

If investors require a rate of return equal to 12% on similar risk bonds and interest is paid semiannually, what should be the market price of Burner's bond?

Reference no: EM132142218

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