What would be the expected market price of this bond

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Question

Assume a corporation's bond has 18 years remaining until maturity. The coupon interest rate is 9% and the bond pays interest semi-annually. Assume bond investors' required rate of return on the bond is 9.8%. What would be the expected market price of this bond.

(Assume a $1000 par value.) Answer to 2 decimal places.

Reference no: EM132381944

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