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Justin Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (r d ) is
Justin Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 6.20%, based on semiannual compounding. What is the bonds price?
$1,074.05
$1,047.19
$1,157.35
$1,101.58
$1,129.12
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