Question: Bape Inc, has a bond outstanding with a coupon rate of 6 . 7 percent and annual payments. The yield to maturity is 7 .

Bape Inc, has a bond outstanding with a coupon rate of 6.7 percent and annual payments. The yield to maturity is 7.9 percent and the bond matures in 23 years. What is the market price if the bond has a par value of $2,000?
*Please show in detail each calculation*

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