Suppose that general motors acceptance corporation issued a, Financial Management

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Suppose that general motors acceptance corporation issued a

Suppose that General Motors Acceptance Corporation issued a bond with 10 years unit maturely a face value of $1.000 and a coupon rate of 7.2% (annual).

The yield so maturity on this bond when it was issued with 5.5%. What was the price of this bond when it was issued? When it issued the price of bond was $. (Round so the nearest sent.)

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