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9) Davis & Davis issued $1,000 par value bonds at 102 . The bonds pay 12% interest annually and mature in 30 years. The market

9) Davis \& Davis issued $1,000 par value bonds at 102 . The bonds pay 12% interest annually and mature in 30 years. The market rate of interest is (round to the nearest hundredth of a percent) A) 12.00%. B) 11.71% C) 10.12%. D) 11.29%

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