A bond has a coupon rate of 12 percent and 14 years until


A bond has a coupon rate of 12 percent and 14 years until maturity. If the yield to maturity is 9.3 percent, what is the price of the bond? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Price of the bond             $

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Financial Management: A bond has a coupon rate of 12 percent and 14 years until
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