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A company has 50,000 bonds outstanding with a face value of $1,000 each and an annual coupon of 7.00%, paid annually. The bonds mature in

A company has 50,000 bonds outstanding with a face value of $1,000 each and an annual coupon of 7.00%, paid annually. The bonds mature in 10 years. If they were issued today at par, the coupon rate would be 8.00%. What is the market value of the company's bonds?

$50,000,000.00

$93,289,918.60

$46,644,959.30

$53,511,790.77

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