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Steel Services Inc. recently issued noncallable bonds at a selling price of $973.63. They have a par value of $1,000 and an annual coupon of
Steel Services Inc. recently issued noncallable bonds at a selling price of $973.63. They have a par value of $1,000 and an annual coupon of 6.7%. If the current market interest rate is 7.0%, how long will it take for the bond to mature? 10 years 14 years years O 6 years
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