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Suppose that 5 years ago, Apple had issued 20-year non-callable bonds. The bonds carried an annual coupon of 10% paid semi-annually and the face value

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Suppose that 5 years ago, Apple had issued 20-year non-callable bonds. The bonds carried an annual coupon of 10% paid semi-annually and the face value was $1,000. If interest rates are 8% today, what is the current value of the bonds? Ob) $1,083 O e) $1.173 O a) $722 O d) $1,222 Oc) $634

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