Question: A 1 0 - year bond with a par value of $ 1 0 , 0 0 0 will mature in 1 0 years for

A 10-year bond with a par value of $10,000 will mature in 10 years for $10,500. The coupon rate is 8% convertible semiannually. Calculate the price that Andrew would pay if he bought the bond to yield 6% convertible twice a year.

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