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Posted on May 19, 2024

Major Inc. issued 1 0 - year 6 % annual coupon bonds with a $ 1 0 0 0 par value each 5 years ago.

Major Inc. issued

10 -

year

6 %

annual coupon bonds with a $

1000

par value each

5

years ago.

Currently, the yield to maturity on the Major Inc. is

9.5 % .

Given this information, what is the

price today for a Major Inc. bond?

(

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