Question: A bond has $ 15000 face value and its coupon rate is 14.5 % (APR). The YTM of bonds with similar risks is 15,4 %.

A bond has $ 15000 face value and its coupon rate is 14.5 % (APR). The YTM of bonds with similar risks is 15,4 %. Coupon is paid on an annual basis at the end of each years. The maturity of this bond is 3 years. What is the fair price of this bond? Give the answer in round number without currency sign, e. g. if the answer is $ 1 546.46 than write 1 546)

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