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(Solved): A $10000 bond with a coupon rate of 7.6 payable semiannually is redeemable after an unspecified num ...



A $10000 bond with a coupon rate of 7.6 payable semiannually is redeemable after an unspecified number of years at 13500. The bond is bought to yield 9% convertible semiannually. If the present value of the redemption value is $3449.28 at this yield rate, find the purchase price.



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