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RJ Toys issues $100,000 of 10%, 8-year bonds that pay interest semiannually. The market rate of interest is 11%. RJ's bond would be trading at

RJ Toys issues $100,000 of 10%, 8-year bonds that pay interest semiannually. The market rate of interest is 11%. RJ's bond would be trading at what price when issued?

$99,560.55

$112,500.54

$105,979.78

$94,768.92

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