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The Churchill Company issued a 25-year bond five years ago with a face value of $1,000. The bond pays interest semiannually at a 10% annual

The Churchill Company issued a 25-year bond five years ago with a face value of $1,000. The bond pays interest semiannually at a 10% annual rate. a.What is the bond's price today if the coupon rate on comparable new issues is 12%

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