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Calculate the fair present value of the following bonds, all of which pay interest semiannually, have 22 years remaining to maturity, and have a required

Calculate the fair present value of the following bonds, all of which pay interest semiannually, have 22 years remaining to maturity, and have a required rate of return of 10%.

a. The bond has a 6% coupon rate.

b. The bond has an 8% coupon rate.

c. The bond has a 10% coupon rate.

d. What do your answers to part (a) through (c) say about the relation between coupon rates and present value?

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