We have the opportunity to buy a 10-year (original term) bond with 8 years of...
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We have the opportunity to buy a 10-year (original term) bond with 8 years of semi-annual coupon payments remaining. The annual coupon rate is set at 6% ($30 semi-annual payment). If the current Yield to Maturity (prevailing market rate on comparable bonds) is approximately 6.5%, estimate the appropriate purchase price of the bond.
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