Question: 2 0 year AAA - rated bonds pay 7 % semi - annual coupons on $ 1 , 0 0 0 par values. The current

20 year AAA-rated bonds pay 7% semi-annual coupons on $1,000 par values. The current cost of debt is 6.26% based on semi-annual compounding. What is the bond's current fair price?
20 year AAA-rated bonds pay 7% semi-annual coupons on $1,000 par

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