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Consider a bond which pays 7% semiannually and has 8 years to maturity. The market requires an interest rate of 8% on bonds of

Consider a bond which pays 7% semiannually and has 8 years to maturity. The market requires an interest rate of 8% on bonds of this risk. What is this bond's price? The face value of bond is $1,000. $942.50 $911.52 $941.74 $1,064.81 None of the above

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