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Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased 8.5 years before maturity. The bonds are bought to yield

Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased 8.5 years before maturity. The bonds are bought to yield 6%. What is the purchase price of the bond?

a)9000

b)78150.49

c)11849.51

d)15667.39

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