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The bonds of Microhard, Inc. carry a 10% annual coupon, have a $1,000 face value, and mature in four years. Bonds of equivalent risk yield

The bonds of Microhard, Inc. carry a 10% annual coupon, have a $1,000 face value, and mature in four years. Bonds of equivalent risk yield 7%. What is the market value of Microhard's bonds? A. $1,011.20 B. $1,087.25 C. $1,095.66 D. $1,101.62 E. $1,160.25

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