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Blossom, Inc has seven - year bonds outstanding that pay a 1 2 percent coupon rate. investors buying these bonds today can expect to earn

Blossom, Inc has seven

-

year bonds outstanding that pay a

12

percent coupon rate. investors buying these bonds today can expect to earn a yield to maturity of

7.10

percent. What is the current value of these bonds? assume annual coupon payments and face value is $

1, 000 .

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