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A bond has a face value of 8,000 $ and bond rate of 5% paid...

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Accounting

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A bond has a face value of 8,000 $ and bond rate of 5% paid annually until it matures at the end of year 5. If the desired interest rate is 10% per year, what is the maximum price that can be paid for this bond? Select one: a. $7040 b. $9622 c. $7822 d. S6258 e. $4588

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