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Morin company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires

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Morin company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 6.1% on these bonds. What is the bond's price? a. $1, 024.74 b. $1, 147.71 c. $1, 116.97 d. $1, 280.93 e. $1, 096.47

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