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3. Grohl Co. issued 5-year bonds a year ago at a coupon rate of 10 percent. The bonds make semiannual payments. If the YTM on

3. Grohl Co. issued 5-year bonds a year ago at a coupon rate of 10 percent. The bonds make semiannual payments. If the YTM on these bonds is 7 percent, what is the current bond price?

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