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Bond Valuation: BBB Manufacturers has outstanding bonds with a $1,000,000 face value. The coupon rate on the bonds is 5% interest is paid semi annually,

Bond Valuation: BBB Manufacturers has outstanding bonds with a $1,000,000 face value. The coupon rate on the bonds is 5% interest is paid semi annually, and the bonds mature in 10 years. If current market rates are 7% what should be the price of these bonds? if current market rates are 3%, what should be the price of these bonds?

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