Mycroft Corp. has a $3,000 par value bond outstanding with a coupon rate of 5...
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Accounting
Mycroft Corp. has a $3,000 par value bond outstanding with a coupon rate of 5 percent paid semiannually and 12 years to maturity. The yield to maturity of the bond is 5.6 percent. What is the dollar price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Price $ _____
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