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BG Corp is issuing a 10-year bond with a coupon rate of 7 percent and par value of $1000 . The market interest rate for
BG Corp is issuing a 10-year bond with a coupon rate of 7 percent and par value of $1000. The market interest rate for similar bonds is currently 9 percent. Assuming annual coupon payments, what is the current price, i.e. present value of the bond? (Do not round intermediate computations. Round your final answer to the nearest dollar.)
Group of answer choices
$872
$1,066
$990
$995
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