A bond with 22-year maturity was issued 4 years ago. Face value of this 10.69% quarterly coupon paying bond is $3,000. A

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answerhappygod
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A bond with 22-year maturity was issued 4 years ago. Face value of this 10.69% quarterly coupon paying bond is $3,000. A

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A bond with 22-year maturity was issued 4 years ago. Face value
of this 10.69% quarterly coupon paying bond is $3,000. Analysts
find that the current yield to maturity of this bond is 12.90
percent. Show your workings and find the value of this bond.
Compare this value against the face value of the bond and write
your comment to explain the difference, if any. (Use max 100 words
for the explanation in the report).
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