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9) jay acquire is considering the purchase of the following: a builtrite, $1000 par, 6 3/8 coupon rate, 20 year maturity bond which is currently

9) jay acquire is considering the purchase of the following: a builtrite, $1000 par, 6 3/8 coupon rate, 20 year maturity bond which is currently selling for $1020. if jay purchases this bond for the quoted price and holds the bond for 5 years when current market interest rates are 8% what should he expect to sell the bond for

$840

$904

$882

$861

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