Renfro Rentals has issued bonds that have a 5% coupon rate, payable annually. The bonds mature in 17 years, have a face value of $1,000, and a yield to maturity of 9%. What's the $price of the bond?
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Renfro Rentals has issued bonds that have a 5% coupon rate, payable annually. The bonds mature in 17 years, have a face value of $1,000, and a yield to maturity of 9%. What's the $price of the bond?
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