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Ten years ago a firm issued $1,000 par value bonds with a 8% annual coupon rate and a term to maturity of 25 years. Currently,

Ten years ago a firm issued $1,000 par value bonds with a 8% annual coupon rate and a term to maturity of 25 years. Currently, a similar bond has a coupon rate (YTM) of 7%. What would these bonds sell for today if they made quarterly coupon payments?

A. $1,091.08

B. $1,032.73

C. $1,117.65

D. $1,092.41

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