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Junkman's Warehouse and Storage Company has an unusual bond outstanding with exactly 10 years remaining until maturity and a face value of $1,000. The bond is unusual because the annual coupon payments remaining are $50 for the next five years and $100 thereafter until maturity. What is the value of this bond when there are exactly four years remaining until maturity if the yield to maturity at that time is 5 percent?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91934137

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