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What is the price of the bonds

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Reference no: EM131009912

(Bond valuation) Doisneau 22 year bonds have an annual coupon interest of 8%, make interest payments on a semiannual basis, and have a $1,000 par value. If the bonds are trading with a market’s required yield to maturity of 14%, are these premiums or discount bonds? What is the price of the bonds? (Round to nearest cent.)

Reference no: EM131009912

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