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one year ago lerner and luckmann co issued 15-year, noncallable, 10.5% annual coupon bonds at their par value of 1,000. today, the market interest rate

one year ago lerner and luckmann co issued 15-year, noncallable, 10.5% annual coupon bonds at their par value of 1,000. today, the market interest rate on these bonds is 10.5%. what is the current price of the bonds, given that they now have 14 years to maturity

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