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General Motors issued a semi-annual coupon bond with a coupon rate of 14% and the yield...

General Motors issued a semi-annual coupon bond with a coupon rate of 14% and the yield to maturity of 16%. The bond has a Face Value of $1,000 and matures in 7 years. What will this bond sell for? (Calculate the price of this bond)

$ 577.10

$ 1000

$ 1,108

$ 917.56

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