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24. Triumph Corp. issued five-year bonds that pay a coupon of 6.375 percent annually. The current market rate for similar bonds is 8.5 percent. How

24. Triumph Corp. issued five-year bonds that pay a coupon of 6.375 percent annually. The current market rate for similar bonds is 8.5 percent. How much will you be willing to pay for Triumph's bond today? (Show your work or your inputs. Round your final answer to the nearest dollar.) a. $1,023 b. $1,137 c. $916 d. $897

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