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A 65,000 bond issue with a stated interest rate of 12%, when the market rate of interest is 7%, means that the bond will sell

A 65,000 bond issue with a stated interest rate of 12%, when the market rate of interest is 7%, means that the bond will sell for:

A. more than 65000

B. less than 65000

C. 45500

D. 65000

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