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J. Manson Inc. recently issued noncallable bonds that mature in 10 years. They have a par value of $1,000 and an annual coupon of 5.5%.

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J. Manson Inc. recently issued noncallable bonds that mature in 10 years. They have a par value of $1,000 and an annual coupon of 5.5%. If the current market interest rate is 7.0% at what price should the bonds sell? $829.21 $850.47 $872.28 $894.65 $917.01

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