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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
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 7.9% on these bonds. What is the bond's price?
Group of answer choices
$946.82
$1,038.74
$919.24
$1,084.70
$818.12
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