Western enterprisesrsquo bonds have 10 years remaining to


Western Enterprises’ bonds have 10 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon rate is 9 percent. The bonds have a yield to maturity of 7 percent. What is the current market price of these bonds?

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Financial Management: Western enterprisesrsquo bonds have 10 years remaining to
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