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Question 15 RJR Nabisco recently experienced a market reevaluation due to a number of tobacco lawsuits. The firm has a bond outstanding with 15 years

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Question 15 RJR Nabisco recently experienced a market reevaluation due to a number of tobacco lawsuits. The firm has a bond outstanding with 15 years to maturity, and a coupon rate of 8 percent, with interest being paid semiannually. The required yield to maturity has risen to 16%. What is the price of the RJR Nabisco bond? $1,000 $804 $767 $550 OOOO

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