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Two bonds have par values of RM1,000. Bond Unicorn is a 5%, 15-year bond priced to yield 8%. Bond Hillary is a 7%, 20-year bond

Two bonds have par values of RM1,000. Bond Unicorn is a 5%, 15-year bond priced to yield 8%. Bond Hillary is a 7%, 20-year bond priced to yield 7%. Which of these two has a lower price?

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