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A company has bonds outstanding, with the following characteristics: Face value $1,000 Years to maturity 14 Coupon rate 696 Yield to maturity 89 Frequency of

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A company has bonds outstanding, with the following characteristics: Face value $1,000 Years to maturity 14 Coupon rate 696 Yield to maturity 89 Frequency of coupons annual (a) How much should each bond sell for in today's market? (b) TRUE OR FALSE? A higher yield to maturity lowers a bond's value

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