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Grossnickle corporation issued 20 year noncallable 7.5% annual coupon bonds at their part value of $1000 one year ago today the market interest rate on

Grossnickle corporation issued 20 year noncallable 7.5% annual coupon bonds at their part value of $1000 one year ago today the market interest rate on the sponsors 5.5% what is the current price of the bonds given that they are now have 19 years to maturity

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