Midland oil has 1000 par value bonds outstanding at 18, Ask an Expert

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Midland Oil has $1,000 par value bonds outstanding at 18 percent interest. The bonds will mature in 20 years. Compute the current price of bonds if the present yield to maturity is: (Do not round intermediate calculations. Round your final answers to 2 decimal places. Assume interest payments are annual.) Bond Price a) 15% b) 8% c)11%

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