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4. Five years ago bonds were issued at par with 16 years until maturity and a 5% annual coupon. If interest rates for that grade

4. Five years ago bonds were issued at par with 16 years until maturity and a 5% annual coupon. If interest rates for that grade of bonds are currently 9%, what will be the market price of these bonds now?

-$727.79

-$582.23

-$1,091.69

-$873.35

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