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Company X has bonds that pay annual interest of $100 and will mature in 12 years. The par value of the bonds is $1,000. The

Company X has bonds that pay annual interest of $100 and will mature in 12 years. The par value of the bonds is $1,000. The interest of the bonds is paid semi-annually. Calculate what the price will be the market rate of interest is 8 percent.

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