Question regarding the current bond price

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Problem:

Ninja Co. issued 12-year bonds a year ago at a coupon rate of 8.4 percent. The bonds make semiannual payments.

Required:

Question: If the YTM on these bonds is 6.7 percent, what is the current bond price?

Note: Please describe comprehensively and provide step by step solution.

Reference no: EM13738401

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