Please compute the price for bond

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Assume a bond with a coupon rate of 11%, a par (maturity) value of $7,400, and a maturity term of 4 years. Assume also semiannual coupon payments at a compounding annual interest rate of 7.5%. Please compute the price for this bond. (Please show your work and round-off your calculations to four decimals)

Reference no: EM132169136

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