You are interested in investing in a five-year bond that pays a 7.8 percent coupon rate with interest to be received semiannually.

$1.49 Excluding Tax

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QUESTION:

You are interested in investing in a five-year bond that pays a 7.8 percent coupon rate with interest to be received semiannually. Your required rate of return is 8.4 percent. What is the most you would be willing to pay for this bond?


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