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Ten years ago, Costco Wholesale Corporation (COST) issued 30-year bonds that had a coupon rate of 8 percent with the interest paid semi-annually.If these bonds

Ten years ago, Costco Wholesale Corporation (COST) issued 30-year bonds that had a coupon rate of 8 percent with the interest paid semi-annually.If these bonds are now trading with a 12 percent market required yield, at what price are these bonds now selling?The par value of the bonds is $1,000. Why is the price now different from the par value?

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