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Lycan, Inc., has 7.5 percent coupon bonds on the market that have 8 years left to maturity. The bonds make annual payments. If the YTM

Lycan, Inc., has 7.5 percent coupon bonds on the market that have 8 years left to maturity. The bonds make annual payments.

If the YTM on these bonds is 9.5 percent, what is the current bond price?

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