Question: Big beef has issued a bond with the following par: $1,000 Time to maturity: 9 years Coupon rate: 12 percent Semiannual payments Calculate the price

Big beef has issued a bond with the following

par: $1,000

Time to maturity: 9 years

Coupon rate: 12 percent

Semiannual payments

Calculate the price of this bond if the YTM is

a. 12 percent

b. 14 percent

c. 10 percent

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