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Bernard co. has 8% coupon bonds on the market that have 20 years left to maturity. The bonds will make annual payments. If the YTM

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Bernard co. has 8% coupon bonds on the market that have 20 years left to maturity. The bonds will make annual payments. If the YTM on these bonds is 4%, what is the current bond price (in $ dollars)? (Assume the face value of the bond is $1,000) $_

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