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Calculate the current price of a $5,000 par value bond that has a coupon rate of 14 percent, pays coupon interest quarterly (i.e., 4 times per year), has 17 years remaining to maturity, and has a current yield to maturity (discount rate) of 12 percent. (Round your answer to 2 decimal places and record without dollar sign or commas)

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Financial Management, Finance

Category:- Financial Management
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