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Forty - year B - rated bonds of Parker Optical Company were ibitially issued at a 1 2 percent yield After 3 9 years the

Forty-year B-rated bonds of Parker Optical Company were ibitially issued at a 12 percent yield After 39 years the bonds have been upgraded to Aa2 Sunch bonds are currently yielding 10 percent to maturity Determine the price of the bonds with 1 years remaining to maturity

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