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Pharoah Corp has 18 year bonds outstanding. These bonds, which pay interest semiannually, have a coupon rate of 10.785 percent and a yield to maturity

Pharoah Corp has 18 year bonds outstanding. These bonds, which pay interest semiannually, have a coupon rate of 10.785 percent and a yield to maturity of 9.2 percent. Assume face value is 1,000. Compute the current price of these bonds

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