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Welsmann Co. issued 11-year bonds a year ago at a coupon rate of 11 percent. The bonds make semiannual payments and have a par value

Welsmann Co. issued 11-year bonds a year ago at a coupon rate of 11 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 12 percent, what is the current bond price

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