Ferraro Co. issued 18-year bonds a year ago at a coupon rate of 4.6 percent. The bonds make semiannual payments and have a par value of $1,000. If...
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Ferraro Co. issued 18-year bonds a year ago at a coupon rate of 4.6 percent. The bonds make semiannual payments

and have a par value of $1,000. If the YTM on these bonds is 4.75 percent, what is the current bond price?

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