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Bond has a coupon rate

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Reference no: EM132200137

You purchase a bond with an invoice price of $1,038. The bond has a coupon rate of 9 percent, and there are four months to the next semiannual coupon date.

What is the clean price of the bond? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

Reference no: EM132200137

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