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Briar Corpis issuing a 10 -year bond with a face value of $1,000 at a coupon rate of 7 percent. The interest rate for similar

Briar Corpis issuing a 10 -year bond with a face value of $1,000 at a coupon rate of 7 percent. The interest rate for similar bonds is currently 9 percent. Assuming annual payments, what is the present value of the bond? $872$1.066$990$945

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