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General Mills has a $1,000 par value, 21-year to maturity bond outstanding with an annual coupon rate of 8.28 percent per year, paid semiannually. Market interest rates on similar bonds are 10.64 percent. Calculate the bond's price today. Please assist.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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