Question: A bond with a $1,000 face value and an 8 percent annual coupon pays interest semiannually. The bond will mature in 15 years. The nominal

A bond with a $1,000 face value and an 8 percent annual coupon pays interest

semiannually. The bond will mature in 15 years. The nominal yield to maturity is 11

percent. What is the price of the bond today?

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