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Five years ago, Jackson Corporation issued twenty - five - year 1 0 % annual coupon bonds with a $ 1 , 0 0 0

Five years ago, Jackson Corporation issued twenty-five-year 10% annual coupon bonds with a $1,000 face value each. Since then, interest rates in general have risen, and the yield to maturity on the Jackson Corporation bonds is now 12%.Given this information, what is the price of the bonds today?Multiple Choice$880$1,218$851$1,230$1,440

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