Question: Roadrunner Corp issued 2 0 - year bonds 1 5 years ago at a coupon rate of 1 0 . 2 percent and par value

Roadrunner Corp issued 20-year bonds 15 years ago at a coupon rate of 10.2 percent and par value of $1,000. The bonds make monthly payments. If the yield to maturity is 7%, how much should you be willing to pay for the bond? Show your work.

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