(Answered) Compute the price of a 5875 par value 14 percent coupon

Finance

Compute the price of a $ 5,875 par value, 14 percent coupon consol, or perpetual bond (i.e., coupon interest payment is a perpetuity), assuming that the yield to maturity on the bond is 9 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).

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