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Lycan, Inc., has 5 percent coupon bonds on the market that have 10 years left to maturity. The bonds make annual payments and have a

Lycan, Inc., has 5 percent coupon bonds on the market that have 10 years left to maturity.

The bonds make annual payments and have a par value of $1,000. If the YTM on these bonds is 8 percent, what is the current bond price (pick the closes value)?
1. $ 810.46
2. $ 798.70
3. $ 733.25
4. None of the above

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