The bonds make annual payments and have par value

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Reference no: EM131313929

Lycan, Inc., has 7.2 percent coupon bonds on the market that have 10 years left to maturity. The bonds make annual payments and have a par value of $1,000.

If the YTM on these bonds is 9.2 percent, what is the current bond price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Current bond price

Reference no: EM131313929

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