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Rex Healthcare recently issued a bond with a 30-year maturity, an annual coupon rate of...

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Accounting

Rex Healthcare recently issued a bond with a 30-year maturity, an annual coupon rate of 10 percent, a face value of $1,000, and semiannual interest payments. If the current rate of interest is a 9 percent yield to maturity on this investment, what is the current price of the bond?

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