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The 10-year $1,000 par bonds of Vail Inc. pay 14 percent interest. The market's required yield to maturity on a comparable-risk bond is 17 percent.

The 10-year $1,000 par bonds of Vail Inc. pay 14 percent interest. The market's required yield to maturity on a comparable-risk bond is 17 percent. The current market price for the bond is $910

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