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(1pt) App Store Co. issued 20-year bonds three years ago at a coupon rate of 6%. The bonds make semiannual payments. If the YTM on
(1pt) App Store Co. issued 20-year bonds three years ago at a coupon rate of 6%. The bonds make semiannual payments. If the YTM on these bonds is 5% (compounded semiannually), what is the current bond price? Is this a premium or a discount bond? 8
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