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Dilbert,inc., planned to issue 3 - year, $ 1 , 0 0 0 face value bonds totaling $ 4 0 million next month. Thebonds have
Dilbert,inc., planned to issue year, $ face value bonds totaling $ million next month. Thebonds have been printed with a annual coupon rate. Since that printing, however, Moody'sdowngraded Dilbert's bond rating from AAA to A and the bonds will have to be priced to yield buyers Determine the bond's price.
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