What price should the bonds sell for

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Question: The Cardinal Corporation has bonds outstanding with 20 years to maturity and a par value of $1000. The bonds pay semi-annual coupon payments at a coupon rate of 8%. The yield to maturity (YTM) on these bonds is 9%. What price should the bonds sell for? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131954835

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