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Assume that you are considering the purchase of a 15-year, non callable bond with an annual coupon rate of 8.60%. The bond has a face value of $1000, and it makes semi annual interest payments. If you require an 13.55% yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? EXPLAIN ANSWER AND SHOW WORK

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Financial Management, Finance

Category:- Financial Management
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