Question: Solve it correctly please. I will rate accordingly with multiple votes. Ty-ped answer only. Explain Suppose that General Motors Acceptance Corporation issued a bond With

Solve it correctly please. I will rate accordingly with multiple votes. Ty-ped answer only. Explain

Suppose that General Motors Acceptance Corporation issued a bond With 10 years until maturity' a face value of 51000 and a coupon rate of 7.1% (annual payments). The yield to maturity on this bond when it was Issued was 63% Assuming the yield to maturity remains constant, what is the price etthe bond Immediately after it makes its first coupon payment? After the rst coupon payment the price of the bond Will be 51; (Round to the nearest cent.)

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