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The market price of an $1090000, ten-year, 14% (pays interest semiannually) bond issue sold to yield an effective rate of 12% is a) $1213145. b)

The market price of an $1090000, ten-year, 14% (pays interest semiannually) bond issue sold to yield an effective rate of 12% is

a) $1213145. b) $2022855. c) $1215017. d) $1224359.

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