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Les Company is about to issue a bond with annual coupon payments, an annual coupon rate of 9%, and a par value of $1,000. The
Les Company is about to issue a bond with annual coupon payments, an annual coupon rate of 9%, and a par value of $1,000. The yield to maturity for this bond is 8%.
a. What is the price of the bond if it matures in 5, 10, 15, or 20 years?
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