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ABC Corporation issued 20-year, 7.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds

ABC Corporation issued 20-year, 7.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 5.5%.

What is the current price of the bonds, given that they now have NINETEEN YEARS TO MATURITY?

a.$903.04

b. $925.62

c. $948.76

d. $972.48

e. $996.79

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