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Grohl Co. issued 16 year bonds a year ago at a coupon rate of 11 percent. The bonds make semiannual payments. If the YTM on

Grohl Co. issued 16 year bonds a year ago at a coupon rate of 11 percent. The bonds make semiannual payments. If the YTM on these bonds is 8 percent, what is the current bond price?

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