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Consider the Wringly Co. 7-year bonds issued with an annual coupon of 7.5% but with coupons paid every six months . If such bonds are

Consider the Wringly Co. 7-year bonds issued with an annual coupon of 7.5% but with coupons paid every six months. If such bonds are generally paying an annual interest rate of 11.5%, what should it be the price of the bonds at the time of issuance?

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