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A company issued bonds with a 30-year maturity, a $1,000 par value, a 13.0% coupon rate, and semiannual interest payments. 10 years after the bonds
A company issued bonds with a 30-year maturity, a $1,000 par value, a 13.0% coupon rate, and semiannual interest payments. 10 years after the bonds were issued, the going rate of interest on bonds such as these changed to 6.0%. At what price would the bonds sell?
$1,809.32
$1,086.19
$851.52
$1,138.33
$1,809.02
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