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QUESTION 8 FTC Capital recently issued bonds that mature in 15 years. They have a par value of $1,000, and an annual coupon of

QUESTION 8 FTC Capital recently issued bonds that mature in 15 years. They have a par value of $1,000, and an annual coupon of 5.2%. If the current market interest rate is 4.75%, at what price should the bonds sell?

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