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What is the price of a bond that is issued one year ago at 5% coupon rate with maturity period of 20 years. Bond pays

What is the price of a bond that is issued one year ago at 5% coupon rate with maturity period of 20 years. Bond pays coupon semiannually. Interest rate of similar bonds in the market is 8%. a. $709.48 b. $711.89 c. $705.46 d. $70111

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