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Ezco sold an issues of bonds with a 15-year maturity a 1000

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EzCo. sold an issues of bonds with a 15-year maturity, a $1,000 face value, and a 12% coupon rate with interest being paid semiannually. Six years after the bonds were issued, the market rate of interest on bonds such as those rose to 14%. At what price would the bonds sell (assume it is six years after issue)?

Reference no: EM13570367

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