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Pet Food Company bonds pay an annual coupon rate of 9.87 percent. Coupon payments are paid semiannually. Bonds have 30 years to maturity and par

Pet Food Company bonds pay an annual coupon rate of 9.87 percent. Coupon payments are paid semiannually. Bonds have 30 years to maturity and par value of $1,000. Compute the value of Pet Food Company bonds if the market interest rate on this type of bond is 12.10 percent

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