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MMM Corporation has bonds trading in the secondary market that mature in 20 years. Each bond pays an annual coupon of $93 with a face

MMM Corporation has bonds trading in the secondary market that mature in 20 years. Each bond pays an annual coupon of $93 with a face value of $1,000. Investors in MMM debt currently seek a 10% return. What is the current trading price for MMM bonds

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