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You are considering buying bonds in ACBB, Inc. The bonds have a par value of $1,000 and mature in 18 years. The annual coupon rate

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You are considering buying bonds in ACBB, Inc. The bonds have a par value of $1,000 and mature in 18 years. The annual coupon rate is 11.0% and the coupon payments are annual. If you believe that the appropriate discount rate for the bonds is 12.0%, what is the value of the bonds to you? $1,023.20 $927.50 $1,077.02 $1,178.68 $980.14

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