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What is the price of the bonds

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Reference no: EM132419773

Problem: Renfro Rentals has issued bonds that have a 11% coupon rate, payable semiannually. The bonds mature in 17 years, have a face value of $1,000, and a yield to maturity of 10.5%.

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Question: What is the price of the bonds? Round your answer to the nearest cent. Can you please help me by providing the authentic solution of this problem.

Reference no: EM132419773

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