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Fingen's 16 -year, $1000 par value bonds pay 9 percent interest annually. The market price of the bonds is $860 and the market's required yield

Fingen's 16 -year, $1000 par value bonds pay 9 percent interest annually. The market price of the bonds is $860 and the market's required yield to maturity on a comparable-risk bond is 12 percent

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