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Assume that a $1,000,000 par value, semiannual coupon U.S. Treasury note with five years to...

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Accounting

Assume that a $1,000,000 par value, semiannual coupon U.S. Treasury note with five years to maturity has a coupon rate of 4%. The yield to maturity (YTM) of the bond is 7.70%. Using this information and ignoring the other costs involved, the value of the Treasury note is..

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