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What is the current price of a $1,000 par value bond maturing in 9 years with a coupon rate of 8 percent, paid annually, that

What is the current price of a $1,000 par value bond maturing in 9 years with a coupon rate of 8 percent, paid annually, that has a YTM of 9 percent?

Answer

		$700
		$945
		$940
		$1,062

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