Question: On May 1 , 2 0 2 1 , you are considering to buy a newly - issued ABC Company bond, which is quoted as

On May 1,2021, you are considering to buy a newly-issued ABC Company bond, which is quoted as "ABC 7.4s36" in the WSJ and has a par value of $1,000. The company pays coupon interests every 6 months. If you require a 5.8% return on this bond, how much would you pay for this bond? (Hint: Identify annual coupon rate, years to maturity, and yield to maturity to compute the bond price.)

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