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Five years ago, Simpson Warehouses Inc. issued twentyfiveyear 10% annual coupon bonds with a $1,000 face value each. Since then, interest rates in general have

Five years ago, Simpson Warehouses Inc. issued twentyfiveyear 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 Thompson bonds is now 12%. Given this information, what is the price today for a Thompson Tarps bond

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