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20 years ago, Johnston Corporation issued bonds that have $1,000 par value and 14 percent semiannual coupon. These bonds had a 30-year original maturity. What

20 years ago, Johnston Corporation issued bonds that have $1,000 par value and 14 percent semiannual coupon. These bonds had a 30-year original maturity. What is the current value of the bond assuming 16 percent market rate of interest (ytm)?

A. $792.76

B. $1,082.33

C. $962.44

D. $901.82

E. $826.52

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