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App Store Co. issued 16-year bonds one year ago at a coupon rate of 7.2 percent. The bonds make semiannual payments. Required: If the YTM

App Store Co. issued 16-year bonds one year ago at a coupon rate of 7.2 percent. The bonds make semiannual payments.

Required: If the YTM on these bonds is 5.5 percent, what is the current bond price?

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