Question: Please explain how you got the answer. Suppose that a 11-year bond with a face value of 3000 dollars is redeemable at par and pays

Please explain how you got the answer.

Suppose that a 11-year bond with a face value of 3000 dollars is redeemable at par and pays semiannual coupons that increase by 1.3 percent per coupon. If the last coupon is for 95 dollars and the yield rate is 7.7 percent convertible semiannually, what is the book value of the bond immediately after the 10th coupon is paid? Answer = dollars

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