A del monte bond with a face value of 1000 pays an annual, Ask an Expert

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A Del Monte bond with a face value of $1,000 pays an annual coupon rate of 5.75%, with an original 7-year tenor and 5 years remaining to maturity. If the market interest rate for similar high yield bonds is 4% and interest is paid semi-annually, what is the current price for the Del Monte bonds?

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Financial Management, Finance

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