The yield to maturity on this bond is 313 percent and the, Financial Management

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The yield to maturity on this bond is 313 percent and the

Union Local School District has a bond outstanding with a coupon rate of 2.27 percent paid semiannually and 5 year to maturity. The yield to maturity on this bond is 3.13 percent, and the bond has a par value of $5,000. What is the price of the bond?

Omit $ dollar sign and commas in your response. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16).

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Financial Management: The yield to maturity on this bond is 313 percent and the

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