The market price of a 1000 par value bond on february 19th, Financial Management

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The market price of a 1000 par value bond on february 19th

The market price of a 1000 par value bond on February 19th, 2017 is 980. The bond pays coupons of amount X on April 15th and October 15th, and the bond will mature on October 15th, 2019. The bond is priced to yield 5% convertible semi-annually. There are 182 days between the coupon dates of October 15, 2016 and April 15, 2017, and 127 days between October 15, 2016 and February 19, 2017. Calculate X. Can someone show how to get the value for X (Correct Value for X is 20.90)?

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Financial Management: The market price of a 1000 par value bond on february 19th

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Financial Management: The market price of a 1000 par value bond on february 19th

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