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A bond issue with a face amount of $1,000,000 bears interest at the rate of 8%. The current market rate of interest is 9%. These

A bond issue with a face amount of $1,000,000 bears interest at the rate of 8%. The current market rate of interest is 9%. These bonds will sell at a price that is:

The answer cannot be determined from the information provided.

More than $1,000,000.

Less than $1,000,000.

Equal to $1,000,000.

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