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What is its current price in the market

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Question - A 5-year $10,000 debenture issued by Braxton Corporation is trading in the market at a yield of 4% p.a. with semi-annual compounding. The instrument pays a semi-annual coupon of 6% per year. What is its current price in the market?

a. $10,898

b. $11,231

c. $10,890

d. $13,593

e. None of the other answers is correct

Reference no: EM132533892

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