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1. [2] Apple issued 20-year bonds a year ago at an annual coupon rate of 10.2%, par value $1,000. The bonds make semi-annual payments. The

1. [2] Apple issued 20-year bonds a year ago at an annual coupon rate of 10.2%, par value $1,000. The bonds make semi-annual payments. The YTM on these bonds is 9.2%. What is the current bond price? Would the bond price rise or fall if YTM increases to 10.2%

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