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1 0 . A $ 1 , 0 0 0 par value bond was issued 2 5 years ago at a 1 2 percent coupon
A $ par value bond was issued years ago at a percent coupon rate. It currently has years remaining to maturity. Interest rates on similar debt obligations are now percent.
a What is the current price of the bond?
b Assume Ms Bright bought the bond three years ago, when it had a price of $ What is her dollar profit based on the bond's current price?
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