Bigbie Corp. issued a five-year bond a year ago with a coupon of 8 percent. The bond pays interest semiannually.

$1.49 Excluding Tax

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QUESTION:

Bigbie Corp. issued a five-year bond a year ago with a coupon of 8 percent. The bond pays interest semiannually. If the yield to maturity on this bond is 9 percent, what is the price of the bond?


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