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Andrews Industries is planning to issue a 30-year bond that pays a 7.00% coupon rate (annual coupon payments) with a face value of $1,000.00. Andrews

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Andrews Industries is planning to issue a 30-year bond that pays a 7.00% coupon rate (annual coupon payments) with a face value of $1,000.00. Andrews currently has an A rating from Standard & Poor's. Assume that the yield to maturity for other long-term, A-rated bonds is 6.50%. What will be the market price of the the Andrews Industries bond when it is issued

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