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What would be the expected market price

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Problem - Assume a corporation's bond has 19 years remaining until maturity. The coupon interest rate is 8.5% and the bond pays interest semi-annually. Assume bond investors' required rate of return on the bond is 8.6%. What would be the expected market price of this bond? (Assume a $1000 par value.) Answer to 2 decimal places.

Reference no: EM132470535

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