MM Motors, Inc. issued a bond 5 years ago. It has a coupon of 10% and will mature in 20 years. Interest rates have risen and the market rate for these bonds is now 12%. What is the price of this bond?
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MM Motors, Inc. issued a bond 5 years ago. It has a coupon of 10% and will mature in 20 years. Interest rates have risen and the market rate for these bonds is now 12%. What is the price of this bond?
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