Company X has a $1,000 par value, 30-year bond outstanding that was issued 20 years ago at
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Question:
Company X has a $1,000 par value, 30-year bond outstanding that was issued 20 years ago at an annual coupon rate of 10%, paid semiannually. Market interest rates on similar bonds are 7%. Calculate the bond's price.
$1,210.71
$1,000.00
$1,168.31
$956.42
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