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Please explain how to solve using a financial calculator. Briar Corp is issuing a 10-year bond with a coupon rate of 7 percent. The interest

image text in transcribed Please explain how to solve using a financial calculator.

Briar Corp is issuing a 10-year bond with a coupon rate of 7 percent. The interest rate for similar bonds is currently 9 percent. Assuming annual payments, what is the present value of the bond? (Do not round intermediate computations. Round your final answer to the nearest dollar.) $990 $872 $945 O $1,066

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