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New White Inc. issued a 20-year, 10% semiannual coupon, $1,000 par value bond five years ago. Since then the market interest rate has decreased to

New White Inc. issued a 20-year, 10% semiannual coupon, $1,000 par value bond five years ago. Since then the market interest rate has decreased to 12%. What is the PV of the bond today? $1,197.93 $1000 $862.35 $1,153.72 O None of the answers is correct

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