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Four years ago bonds were issued at par with 10 years until maturity and a 7% semi-annual coupon. If interest rates for that grade of

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Four years ago bonds were issued at par with 10 years until maturity and a 7% semi-annual coupon. If interest rates for that grade of bond are currently 8.5%, what will be the current market price of these bonds? Select one: a. $987.50 b. $928.84 C. $917.06 d. $930.62 16 21 22

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