Question: Please show calculations with a formula or step-by-step financial calculator, excel not allowed.. Timmons, Inc., has 10 percent coupon bonds on the market that have

Please show calculations with a formula or step-by-step financial calculator, excel not allowed..

Timmons, Inc., has 10 percent coupon bonds on the market that have 12 years left to maturity. The bonds make annual payments and have a par value (maturity value) of $1000. If the yield to maturity (YTM) on these bonds is 8 percent, what is the current bond price?

Please show calculations with a formula or step-by-step financial calculator, excel not allowed.

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