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Two years ago you purchased 7 Year 7% Annual Coupon Bonds issued by Tuckman Companies. These bond have just paid their second annual coupon and

Two years ago you purchased 7 Year 7% Annual Coupon Bonds issued by Tuckman Companies. These bond have just paid their second annual coupon and you have decided to sell the bonds. The market Effective annual YTM for Tuckman Bonds is now 5%. How much will you receive if you sell the bonds. Assume a face value of $1,000.

a. $1,087

b. $918

c. $1,116

d. $968

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