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Your friend recommends that you invest in a three - year bond with a face value of $ 1 , 0 0 0 issued by

Your friend recommends that you invest in a three-year bond with a face value of $1,000 issued by Trimer, Inc., that will pay annual coupons of 10 percent. Similar investments today will yield 6 percent. How much should you pay for the bond?
$1,024
$1,107
$979
$886
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