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Desert, Inc., has outstanding a $2,000,000, 8%, 10-year bond which was sold on January 1, 20x1, at a price of $1,840,000.On January 2, 20x5, the

Desert, Inc., has outstanding a $2,000,000, 8%, 10-year bond which was sold on January 1, 20x1, at a price of $1,840,000.On January 2, 20x5, the market price for these bonds is now 101 .Which direction have market interest rates moved since they were initially issued?

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Interest rates have increased

Interest rates have decreased

Interest rates have remained constant

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