Question: ***Answer marked incorrect as 1,099.35. Please do not comment with this as the answer and please show all work for how an answer is obtained.

***Answer marked incorrect as 1,099.35. Please do not comment with this as the answer and please show all work for how an answer is obtained.

Two years ago a bond was issued at par with 10 years until maturity and a 14% annual coupon. if interest rates for that grade of bond are currently 12%, what will be the market price of this bond?

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