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Renfro Rentals has issued bonds that have a 14% coupon rate, payable semiannually. The bonds mature in 6 years, have a face value of $1,000,

Renfro Rentals has issued bonds that have a 14% coupon rate, payable semiannually. The bonds mature in 6 years, have a face value of $1,000, and a yield to maturity of 10%. What is the price of the bonds?

$850

$1,000

$1,400

$1,177

$1,086

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