Question: A $ 1 , 0 0 0 face value, 6 . 0 % coupon, Province of Ontario bond with 1 8 years to run until

A $1,000 face value, 6.0% coupon, Province of Ontario bond with 18 years to run until maturity is currently priced to yield investors 5.7% compounded semiannually until maturity. How much lower would the bond's price have to be to make the yield to maturity 6.2% compounded semiannually? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Price should be lowered by
$
A $ 1 , 0 0 0 face value, 6 . 0 % coupon,

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