3. Exodus Limousine Company has $1,000 par value bonds outstanding at 10 percent interest. The bonds will

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3. Exodus Limousine Company has $1,000 par value bonds outstanding at 10 percent interest. The bonds will mature in 50 years. Compute the current price of the bonds if the percent yield to maturity is:

a. 5 percent.

b. 15 percent.

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