Maturity bond outstanding with an annual coupon rate

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Reference no: EM13919739

General Mills has a $1,000 par value, 17-year to maturity bond outstanding with an annual coupon rate of 9.72 percent per year, paid semiannually. Market interest rates on similar bonds are 11.60 percent. Calculate the bond’s price today. Round the answer to two decimal places.

Reference no: EM13919739

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