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On January 1, 2007, Churchill Co. issued a $100,000, 10% coupon rate, 5-year bond. The market interest rate is 10%. What is the market value

On January 1, 2007, Churchill Co. issued a $100,000, 10% coupon rate, 5-year bond. The market interest rate is 10%. What is the market value of Churchill bond on July 1, 2009?

	$9,865.34
	$8,934.56
	$102,454.33
	$100,000

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