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In December 2010, Alpha Technologies Plc. issued coupon bonds with par value 100. The coupon rate is 8 percent annually and the bonds will be

In December 2010, Alpha Technologies Plc. issued coupon bonds with par value 100. The coupon rate is 8 percent annually and the bonds will be redeemed at par value in December 2015. What is the price of the bond if the competitive market interest rate is 10 percent? How would your answer change if the coupons were paid semi-annually?

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