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Bond A and Bond B are identical except for their annual coupons and prices: Face value Bond A $30,000.00 Bond B $30,000.00 Coupon rate

Bond A and Bond B are identical except for their annual coupons and prices: Face value Bond A $30,000.00 Bond B $30,000.00 Coupon rate 7% 8% Years to maturity 5 5 Price $28,226.71 ? Required: Determine the price of Bond B. (5 marks)

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