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11) Merlin Mills issued 30-year bonds one year ago at a coupon rate of 11 percent. The bonds make semiannual payments and have a par

11) Merlin Mills issued 30-year bonds one year ago at a coupon rate of 11 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM is 9 percent, what is the current bond price?

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