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Westco Company issued 15-year bonds a year ago at a coupon rate of 8.7 percent. The bonds make semiannual payments and have a par value

Westco Company issued 15-year bonds a year ago at a coupon rate of 8.7 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 7 percent, what is the current bond price in dollars

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