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Essex Biochemical Co. has a $1,000 par value bondoutstanding that pays 15 percent annual interest. The current yieldto maturity on such bonds in the market

Essex Biochemical Co. has a $1,000 par value bondoutstanding that pays 15 percent annual interest. The current yieldto maturity on such bonds in the market is 17 percent. Compute theprice of the bo 1 answer

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