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Waco Industries has 20-year bonds that pay a 12.0% semi-annual coupon. If the market requires a 13.5% return on the bonds, what is the current

Waco Industries has 20-year bonds that pay a 12.0% semi-annual coupon. If the market requires a 13.5% return on the bonds, what is the current price of a Waco bond

	$1,112.85
	$897.04
	$488.58
	$970.25

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