ABC Corp. issued 8-year bonds a year ago. The bonds make semiannual payments. The YTM (yield to maturity) on the bonds when issued at par was 8%. ABC issued 12,561 bonds and will face a total repayment of $26,126,880 when the bonds mature. If the YTM on these bonds is 6.1%, what is the current bond price?
The answer has been presenetd in the supporting sheet. For detailed answer refer to the supporting sheet.
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