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A 20-year $10,000 bond is redeemable at par and pays interest at j = 8% and is purchased to yield j2=6%. After 8 years, the

A 20-year $10,000 bond is redeemable at par and pays interest at j = 8% and is purchased to yield j2=6%. After 8 years, the bond is sold to an investor who desires a yield of j = 7%. What price does this investor pay for the bond? A. $12,311.48 B. $11,693.55 C. $10,802.92 D. $11,067.75

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