Stated interest rate outstanding

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Reference no: EM131621201

A firm has an issue of $1,000 par value bonds with a 9% stated interest rate outstanding. The issue pays interest annually and has 20 years remaining to its maturity date. If bonds of similar risk are currently earning 11%, the firm's bond will sell for _________ today.

$1,000

$716.67

$840.67

$1,123.33

Reference no: EM131621201

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