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Ryngaert inc recently issued noncallable bonds that mature

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Ryngaert Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an annual coupon of 5.7%. If the current market interest rate is 9.7%, at what price should the bonds sell?

$524.76

$690.48

$725.00

$835.47

$655.95

Reference no: EM13567094

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