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QUESTION
A firm has an issue of $1,000 par value bonds with a 9 percent coupon. The issue pays interest annually and has 10 years remaining to its maturity...
A firm has an issue of $1,000 par value bonds with a 9 percent coupon. The issue pays interestannually and has 10 years remaining to its maturity date. If bonds of the same risk are currently earning 8 percent, what is the price of the bond?
