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Question: Company x sold an issue of bonds with a 20 year maturity, a $1000 par value, an 8% coupon rate, and annual interest payments. 8 years after issue, the going rate of interest on comparable bonds rose to 10%. At what price would the bonds sell? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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