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Thirty - year B - rated bonds of Parker Optical Company were initially issued at a 1 0 percent yield. After 1 5 years the

Thirty-year B-rated bonds of Parker Optical Company were initially issued at a 10 percent yield. After 15 years the bonds have been upgraded to Aa2. Such bonds are currently yielding 8 percent to maturity.
Determine the price of the bonds with 15 years remaining to maturity.

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