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Suppose General Motors Corporation issued a bond wth 10 years until maturity, a face value of...

Suppose General Motors Corporation issued a bond wth 10 years until maturity, a face value of $1000 and coupon rate of 7.8%(annual payments). The yield to maturity

of the bond when it was issued was 5.9%. Assuming the yield to maturity remains constant, what is the price of the bond immediately after it makes the first coupon payment?

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