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What would be the expected market price of the bond

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Problem 1: Assume a corporation's bond has 17 years remaining until maturity. The coupon interest rate is 8.3% and the bond pays interest semi-annually. Assume bond investors' required rate of return on the bond is 8.1%. What would be the expected market price of this bond. (Assume a $1000 par value.) Answer to 2 decimal places.

Reference no: EM132667525

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