What price should this bond trade today

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Reference no: EM131835401

A Ford Motor Co. coupon bond has a coupon rate of 6.75%, and pays annual coupons. The next coupon is due tomorrow and the bond matures 31 years from tomorrow. The yield on the bond issue is 6.2%. At what price should this bond trade today, assuming a face value of $1,000?

The price of the bond today should be ______________

(Round to the nearest cent.)

Reference no: EM131835401

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