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Ninja Co. issued 14-year bonds a year ago at a coupon rate of 8.6 percent. The bonds make semiannual payments. If the YTM on these

Ninja Co. issued 14-year bonds a year ago at a coupon rate of 8.6 percent. The bonds make semiannual payments. If the YTM on these bonds is 6.9 percent, what is the current bond price?

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