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A firm has an issue of $10,000 par value bonds with a 9% coupon rate. The issue pays interest annually and has 20 years remaining

A firm has an issue of $10,000 par value bonds with a 9% coupon rate. The issue pays interest annually and has 20 years remaining to its maturity date. If required return is 11 percent, the firm's bond will sell for $10,000 $8,406.70 $7,166.70 $11,233.33

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