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Moerdyk Corporation's bonds have a 20-year maturity, an 8.85% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 6.60%, based

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Moerdyk Corporation's bonds have a 20-year maturity, an 8.85% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 6.60%, based on semiannual compounding. What is the bond's price? a. $1,245.96 b. $1,247.88 O c. $1,162.82 d. $1,280.05 e. $1,309.81

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