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What would you be willing to pay for a $1000 par, 7 1/2% coupon bond with 25 years until maturity if you wanted to earn

What would you be willing to pay for a $1000 par, 7 1/2% coupon bond with 25 years until maturity if you wanted to earn a return of 8%?

Group of answer choices?

$973

$962

$947

$931

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