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Suppose you are reviewing a bond that has a 10% annual coupon and a face value of $1,000. There are 20 years to maturity, and

Suppose you are reviewing a bond that has a 10% annual coupon and a face value of $1,000. There are 20 years to maturity, and the yield to maturity is 8%. What is the price of this bond?

$1,234.43
$1,196.36
$1,045.19

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