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Moerdyk corporations bonds have a 15-year maturity a 725

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Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 6.20%, based on semiannual compounding. What is the bond's price?

Reference no: EM13570772

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