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Dexter Mills issued 20-year bonds at a coupon rate of 10.2 percent. The bonds make semiannual payments and have a par value of $1,000. If

Dexter Mills issued 20-year bonds at a coupon rate of 10.2 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 9.2 percent, what is the current bond price?

a. $985.55

b. $991.90

c. $1,042.16

d. $1,090.07

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