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3) CIR , inc, has 8 percent coupon bonds on the market that have 12 years left to maturity. The bonds have $1,000 par value

3) CIR , inc, has 8 percent coupon bonds on the market that have 12 years left to maturity. The bonds have $1,000 par value and the YTM on these bonds is 10.5 percent. if the bonds make annual coupon payments, what is the current bond price? if the bonds make semi-annual coupon payments, what is the current bond price?

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