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Staind inc has 7 percent coupon bonds on the market that

Staind, Inc., has 7 percent coupon bonds on the market that have 10 years left to maturity. The bonds make annual payments. If the YTM on these bonds is 9 percent, what is the current bond price? (note: when the face value is not given for a bond, assume it is $1,000)

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Finance Basics: Staind inc has 7 percent coupon bonds on the market that

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