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A company just issued a 10 year 7% coupon bond. The face value of the bond is $1,000 and the bond makes annual coupon payments.

A company just issued a 10 year 7% coupon bond. The face value of the bond is $1,000 and the bond makes annual coupon payments. If the required return on the bond is 10%, what is the bonds price?

$815.66

$923.67

$1,000.00

$1,256.35

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