A ford motor co coupon bond has a coupon rate of 685 and, Financial Management

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A ford motor co coupon bond has a coupon rate of 685 and

A Ford Motor Co. coupon bond has a coupon rate of 6.85?%, and pays annual coupons. The next coupon is due tomorrow and the bond matures 23 years from tomorrow. The yield on the bond issue is 6.3?%. At what price should this bond trade? today, assuming a face value of ?$1,000?

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