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XYZ Mining just issued a bond with $ 1 , 0 0 0 face value with an annual coupon rate of 7 % that matures

XYZ Mining just issued a bond with $1,000 face value with an annual coupon rate of 7% that matures in 30 years. The yield to maturity is 7%.If the yield to maturity increases more than 7%, the price of bond will be:(1) Less than 1,000(2) Equal to 1,000(3) More than 1,000Enter your answer either 1 or 2 or 3.

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