The market requires an interest rate of 9 on these bonds


Morin Company's bonds mature in 8 years, have a par value $ 1,000, and make an annual coupon interest payment $6s. The market requires an interest rate of 9% on these bonds, what is the bond's price? Assume that this bond is non-callable.

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Financial Management: The market requires an interest rate of 9 on these bonds
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