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Business, 17.04.2020 01:23 lele142018

An investor purchases a 1,000 bond redeemable at par that pays 8% semiannual coupons and matures in 10 years. The bond will yield 7% convertible semiannually to maturity. If the bond is called in five years, the minimum redemption value the investor needs to realize the same yield is X. Determine X.

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