Question: A Ford Motor Co. coupon bond has a coupon rate of 7%, and pays annual coupons. The next coupon is due tomorrow and the bond

A Ford Motor Co. coupon bond has a coupon rate of 7%, and pays annual coupons. The next coupon is due tomorrow and the bond matures 23

years from tomorrow. The yield on the bond issue is 6.2%. At what price should this bond trade today, assuming a face value of

$1,000?

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