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ABC Construction is issuing 20-year ($1,000 face value) bonds that will pay coupons semi-annually. The coupon rate is fixed at 8.8%. If the YTM is
ABC Construction is issuing 20-year ($1,000 face value) bonds that will pay coupons semi-annually. The coupon rate is fixed at 8.8%. If the YTM is 7% per annum, what will the bonds sell for today? (Round to the nearest dollar)
$932
$1,085
$1,192
$867
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