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A company issued bonds four years ago with an original maturity of 2 0 years a 9 . 2 5 % coupon rate with semiannual

A company issued bonds four years ago with an original maturity of

20

years a

9.25 %

coupon rate with semiannual coupon payments, and a par value of $

1000 .

The current market interest rate is

10.25 % .

What is the bonds dollar price?

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