What should be the price of this bond

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Reference no: EM131089340

Duke Energy has recently issued a bond with the following characteristics: maturity: 20 years, coupon rate: 8% (paid semi-annually), face value: $1000. Your investment advisor has told you that the yield-to-maturity on this bond is 7%. What should be the price of this bond?

Reference no: EM131089340

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