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Question: The Cardinal Corporation has bonds outstanding with 20 years to maturity and a par value of $1000. The bonds pay semi-annual coupon payments at a coupon rate of 8%. The yield to maturity (YTM) on these bonds is 9%. What price should the bonds sell for? 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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