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Grossnickle Corporation issued 15-year, noncallable, 9.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these
Grossnickle Corporation issued 15-year, noncallable, 9.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 7.5%. What is the current price of the bonds, given that they now have 14 years to maturity? a. $1,239.44 O b. $1,230.27 c. $1,182.83 O d. $1,169.78 e. $1,176.54
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