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Prescott Pharmaceuticals is a firm that needs to raise additional debt capital in order to expand its manufacturing equipment. It plans on issuing 9-year bonds,

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Prescott Pharmaceuticals is a firm that needs to raise additional debt capital in order to expand its manufacturing equipment. It plans on issuing 9-year bonds, each with a face value of $1,200, and with their coupons paid every 2 months at 17.30% APR. The market rate of interest for similar bonds is currently 15.90% APR. Which of the following is closest to the price that will investors pay for each of the new bonds issued by Prescott Pharmaceuticals? O a $1,066.60 O b. $1,271.01 O c. $1,279.93 O d. $1,123.81 O e. $1,222.16 Of. $1,313.52 O g. $1,322.25 Oh. $1,277.66

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