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Dunder Miflin Corporation issued 20-year, 10% annual coupon bonds at their par value of $1,000 four years ago. Today, the market interest rate on these
Dunder Miflin Corporation issued 20-year, 10% annual coupon bonds at their par value of $1,000 four years ago. Today, the market interest rate on these bonds is 12%. What is the current price of one of these bonds?
Group of answer choices
$859.16
$860.52
$850.61
$939.25
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