Question: please include formula and show work, thank you 1. You have invested in a bond issue by Ghurair llc. the bond has a par value

please include formula and show work, thank you

1. You have invested in a bond issue by Ghurair llc. the bond has a par value of AED 1000. the bond pays interest with a coupon rate of 4%. the bond was issued with a maturity of 15 years, the yield to maturity of the bond is 13%. Ghurair llc credit rating decreased recently and therefore you increase there required return by 2%. given this change in the required return, what will be the percentage change in the price of the bond issued by Ghurair llc

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