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27 Hewitt Packing Company plans to issue bonds with a 10 -year maturity, a $1,000 par value, a 9 percent coupon rate, and semiannual interest

27
Hewitt Packing Company plans to issue bonds with a 10 -year maturity, a $1,000 par value, a 9 percent coupon rate, and semiannual interest payments. Bonds of the same risk are currently having a yield to maturity of 11 percent. What is the value of these Hewitt Packing Company bonds? $880.50 $987.40 $1050.65 $1114,70

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