A 1000 par value bond is currently selling in the, Financial Management

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A 1000 par value bond is currently selling in the

A $1,000 par value bond is currently selling in the marketplace. It had an original maturity of 25 years and was sold 14 years ago. Its coupon rate is 6% and you are to determine its current price, given bonds of comparable risk have a yield to maturity of 9.7%.

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