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7. J&J Manufacturing just issued a bond with a $1,000 face value and a coupon rate of 7%. If the bond has a life of

7. J&J Manufacturing just issued a bond with a $1,000 face value and a coupon rate of 7%. If the bond has a life of 30 years, pays annual coupons, and the vield to maturity is 6.8%, what is the total present value of the bond's coupon payments? $138.95 $241.15 $886.37 $921.12 $1,025.32

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