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A $ 1 0 0 0 , 8 . 5 % coupon, 2 5 year Government of Canada bond was issued on June 1 ,

A $

1000, 8.5 %

coupon,

25

year Government of Canada bond was issued on June

1, 1986 .

At what price did it sell on April

27, 1990

if the market's required return

was

11.2 %

compounded semiannually

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