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Midland Oil has $ 1 , 0 0 0 par value bonds outstanding at 2 5 percent interest. The bonds will mature in 1 5
Midland Oil has $ par value bonds outstanding at percent interest. The bonds will mature in years. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.
Compute the current price of the bonds if the present yield to maturity is: ; ;
Note: Do not round intermediate calculations. Round your final answers to decimal places. Assume interest payments are annual.
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