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Smokin Joe has issued a bond with a par value of $1,000 and a coupon rate of 11.00% (paid annually). It has 10 years remaining

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Smokin Joe has issued a bond with a par value of $1,000 and a coupon rate of 11.00% (paid annually). It has 10 years remaining to maturity. If bonds of identical risk and maturity currently yield 7.00%, what should this bond's price be? $1,280.94$1,335.02$1,088.80$1,216.90$1,000.00

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