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Oil Wells offers 5.6 percent coupon bonds with annual payments and a yield to maturity of 6.94 percent. The bonds mature in seven years. The

Oil Wells offers 5.6 percent coupon bonds with annual payments and a yield to maturity of 6.94 percent. The bonds mature in seven years. The face value is $1,000. These bonds sell at:

a. premium b. discount c. par

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