What was the dollar price of the bond

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Question: Assume that the financial management corporation's 1000-par-value bond had a 5.700% coupon, matures on May 15,2023, has a current price quote of 97.708, and has a yield to maturity of 6.034%. Given this information, answer the following questions:

a. What was the dollar price of the bond?

b. What is the bond's current yield?

c. Is the bond selling at par, at a discount, or at a premium? Why?

d. Compare the bond's current yield calculated in part b to its YTM and explain why they differ.

Reference no: EM132171630

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