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Morin Company's bonds mature in 10 years, have a par value of $1,000, and make an annual coupon interest payment of $50. The market requires

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Morin Company's bonds mature in 10 years, have a par value of $1,000, and make an annual coupon interest payment of $50. The market requires an interest rate of 6.1% on these bonds. What is the bond's price? 1. $919.42 b. $829.73 c. $941.76 d. $913.69 e. $1,366.27

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