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What is the price of the municipal bond given the information below

Finance

What is the price of the municipal bond given the information below. The bond makes semiannual interest payments. (Do not round intermediate calculations, round answer to two decimals, i.e. 32.16)

 

 

Coupon Rate:7.8%

YTM:10.5%

Maturity (years):11

Par value: $5,000

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