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Tyler Corp. bond carries a coupon rate of 8.00%, has 9 years until maturity, and other similar bonds offer 7.00% per year, compounded semiannually. Coupon

Tyler Corp. bond carries a coupon rate of 8.00%, has 9 years until maturity, and other similar bonds offer 7.00% per year, compounded semiannually. Coupon payments are made semiannually.

What willbe the newTyler bond price if the rate offered by other bonds falls to 6.00% per year, compounded semiannually?

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