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XYZ company issued 10 year bonds. The bonds have a face value of $5,000 and a contract rate of interest of 10%. The bonds make

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XYZ company issued 10 year bonds. The bonds have a face value of $5,000 and a contract rate of interest of 10%. The bonds make cash interest payments annually. If the market rate of interest is 8% (YTM), what is the selling price of the bonds? Would we say that this bond sells at par, premium or a discount

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