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Noncallable bonds that mature in 10 years

29/11/2021 Client: muhammad11 Deadline: 2 Day

D. J. Masson Inc. recently issued noncallable bonds that mature in 10 years. They have a par value of $1,000 and an annual coupon of 5.5%. If the current market interest rate is 7.0%, at what price should the bonds sell?

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