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Explain why the bond in 1 is trading at a value below par and the bond in 2 is trading at a value above par,
Explain why the bond in 1 is trading at a value below par and the bond in 2 is trading at a value above par,
and
Joe's Enterprises non callable bonds currently sell for $1,120. They have a 15 year maturity, an annual coupon of $85 and a par value of $1,000. What is their yield to maturity?
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