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O Midland Oil has $1,000 par value (maturity value) bonds outstanding at 8 percent interest. The bonds will mature in 25 years with annual payments.

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O Midland Oil has $1,000 par value (maturity value) bonds outstanding at 8 percent interest. The bonds will mature in 25 years with annual payments. Compute the current price of the bonds if the present yield to maturity is: (Use a Financial calculator to arrive at the answers. Do not round Intermediate calculations, Round the final answers to 2 decimal places.) Price of the bond ook int a. 7 percent b. 10 percent c. 13 percent $ $ ences

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