Question: On December 1 , 2 0 2 0 , Hilton issued senior unsecured notes ( bonds ) with $ 1 , 0 0 0 face

On December 1,2020, Hilton issued senior unsecured notes (bonds) with $1,000 face
value at a coupon rate of 3.000% with semi-annual coupons and a maturity date of June 1,2031.
Assume today is December 1,2023, and the semi-annual coupon was paid out earlier today. If
the current yield to maturity is 5.500%, what is the current price of a Hilton bond?

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