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One year ago a company issued 15- year, noncallable, 7.75% annual coupon bonds at their par value of $1,000. Today, the market interest rate on

One year ago a company issued 15- year, noncallable, 7.75% annual coupon bonds at their par value of $1,000. Today, the market interest rate on these bonds is 6.75%. What is the current price of bonds

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