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The international Publishing Group is raising $10 million by issuing 15 -year bonds with a coupon rate of 10.4 percent Coupon payments will be made

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The international Publishing Group is raising $10 million by issuing 15 -year bonds with a coupon rate of 10.4 percent Coupon payments will be made annually. Investors buying the bonds today will earn a yield to maturity of 10.4 percent. The Face Value of each bond is $1,000. At what price will the bonds sell in the marketplice? Sale value

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