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The 4
The 4.5 percent, semiannual coupon bond issued by Tyler Rentals has a $1,000 face value and matures in 12 years. The bond is currently quoted at 98.7. What is the clean price of this bond if the next interest payment will occur 4 months from today
Expert Solution
Computation of Clean Price of this bond if the next interest payment will occur 4 months from today:
Clean price = Face Value * Quoted Price
=(0.987*1000)
Clean Price = $987
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