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WorldTravel has a 20-year semiannual bond issued 2 years ago. The bond has a coupon rate of 7% and a par value of $1,000. If

WorldTravel has a 20-year semiannual bond issued 2 years ago. The bond has a coupon rate of 7% and a par value of $1,000. If you require a 9% nominal yield to maturity on the bond, how much will you pay for the bond?

a) $817.43

b) $824.89

c) $815.98

d) $823.34

What is the bond's current yield in the previous question?

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