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Lowder Inc. issued 10% semiannual coupon bonds with a $1,000 face value 5 years ago. The bonds had 25 years to maturity at the time

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Lowder Inc. issued 10% semiannual coupon bonds with a $1,000 face value 5 years ago. The bonds had 25 years to maturity at the time when they were issued. Investors currently require a 12% rate of return in the market. a. What is the price of the bonds today

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