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Assume that 7 years ago Apex Corporation issued a 25-year bond with a face value of $1,000. The coupon rate of 6.25% with interest payable

Assume that 7 years ago Apex Corporation issued a 25-year bond with a face value of $1,000. The coupon rate of 6.25% with interest payable annually. The yield to maturity on Apexs bond is 8.50%. What is the current market price of the bonds? Round off to the nearest $1.

A) $770

B) $796

C) $1,239

D) Answer not shown

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