Computing the current bond price, Accounting Basics

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Computing the current bond price

Problem:

Lycan, Inc., has 7.1 percent coupon bonds on the market that have 9 years left to maturity. The bonds make annual payments.

Required:

Question: If the YTM on these bonds is 9.1 percent, what is the current bond price?

Note: Please show guided help with steps and answer.

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Accounting Basics: Computing the current bond price

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Accounting Basics: Computing the current bond price

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