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GMM s bonds have 1 0 years remaining to maturity. Interest is paid annually; they have a Rs 1 , 0 0 0 par value;

GMM

s bonds have

10

years remaining to maturity. Interest is paid annually; they have

a Rs

1, 000

par value; the coupon interest rate is

8 %

and the yield to maturity is

9 % .

What is the bond

s current market price?

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