A bond with 22-year maturity was issued 5 years ago. The face value of this 11.92% quarterly
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Question:
A bond with 22-year maturity was issued 5 years ago. The face value of this 11.92% quarterly coupon paying bond is $2,000. Analysts find that the current yield to maturity of this bond is 12.36 percent.
Show your workings and find the value of this bond.
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