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Company x sold an issue of bonds with a 20 year maturity, a $1000 par value, an 8% coupon rate, and annual interest payments. 8

Company x sold an issue of bonds with a 20 year maturity, a $1000 par value, an 8% coupon rate, and annual interest payments. 8 years after issue, the going rate of interest on comparable bonds rose to 10%. At what price would the bonds sell?
A. $663.73
B. $763.73
C. $863.73
D. $963.73

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