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GMM plans to issue annual coupon bonds with 7.5% coupon rate to the public, maturing in 10 years. The face value of the bond is

GMM plans to issue annual coupon bonds with 7.5% coupon rate to the public, maturing in 10 years. The face value of the bond is $1,000. You notice that 3 years ago, your company issued a 15-year annual coupon bond with 8% coupon rate with the current market price of $950. As CFO, what price should you set for the new bond

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