A bond's credit rating provides a guide to its price. In December 2020, Aaa bonds...
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A bond's credit rating provides a guide to its price. In December 2020, Aaa bonds yielded 4.2%, and Baa bonds yielded 5.2%. Some bad news causes a 10% five-year bond to be unexpectedly downrated from Aaa to Baa. Assume face value is $1,000. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
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