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Suppose you are given the following bond quote information:

Time to maturity: 20 years

Coupon rate: 8%

Yield to maturity: 6%

Par Value: $1,000

Assuming annual compounding, calculate the price on the bond. (Round to 2 decimals)

Please show work

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92857939

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