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Franco, Incorporated, offers a bond with an annual coupon rate of 4.5 percent, semiannual payments, and a yield to maturity of 6.5 percent. The bond

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Franco, Incorporated, offers a bond with an annual coupon rate of 4.5 percent, semiannual payments, and a yield to maturity of 6.5 percent. The bond matures in 10 years. What is the market price of a $1,000 face value bond? Multiple Choice $531.71 $854.61 $856.22 $707.32 $915.78

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