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The Morrissey Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon payment of $110. The market interest

The Morrissey Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon payment of $110. The market interest rate for the bonds is 16%. What is the bond's price? a. 1,000,00 b. 782.82 c. 1,100.00 d. 834.70

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