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Jay Aquire is considering the purchase of a Builtrite, $1000 par, 55/8% coupon rate, 10 year maturity bond which is selling for $975. If Jay's

Jay Aquire is considering the purchase of a Builtrite, $1000 par, 55/8% coupon rate, 10 year maturity bond which is selling for $975. If Jay's required rate of return is 6%, what would he be willing to pay for the bond? $972 $987 $982 $977

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