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Raub Mining Corporation bonds carrying a coupon rate of 8.5% p.a., is selling for $844.40. Coupon interest payments are being paid semi-annually and the bonds

Raub Mining Corporation bonds carrying a coupon rate of 8.5% p.a., is selling for $844.40. Coupon interest payments are being paid semi-annually and the bonds will mature 15 years from today.

If the current market rate is 10%, would you invest in the bond? Explain.

(Use 3-decimal places in your calculation)

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