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Optimum Company's bonds mature in 20 years, have a par value of $1,000, and make an annual coupon interest payment of $45. The market requires
Optimum Company's bonds mature in 20 years, have a par value of $1,000, and make an annual coupon interest payment of $45. The market requires an interest rate of 6.2% on these bonds. What is the bond's price?
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