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The bonds issued many years ago by the XYZ Corporation just paid another annual coupon and have four annual coupons remaining. These bonds have a
The bonds issued many years ago by the XYZ Corporation just paid another annual coupon and have four annual coupons remaining. These bonds have a $1,000 par value, and a 14% coupon rate. Bonds of similar risk currently have a yield to maturity of 8%. The market price of these bonds would be closest to _______.
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