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MacroDrove corporation's bonds have 10 years remaining to maturity. The bonds have a $1,000 par value, and the coupon interest rate is 6%, Investors require

MacroDrove corporation's bonds have 10 years remaining to maturity. The bonds have a $1,000 par value, and the coupon interest rate is 6%, Investors require a return of 8% on the bonds.

a) What is the current market price of these bonds if interest is paid annually?

b) What is the current market price of these bonds if interest is paid semi-annually?

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