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If an irredeemable bond with $100 face value offers an annual coupon rate 9.5 % and the market rate of the bond is currently 11.5%.

If an irredeemable bond with $100 face value offers an annual coupon rate 9.5 % and the market rate of the bond is currently 11.5%. What is the present value of the bond? $92.5 $115.0 $95.0 $82.6

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