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Les Company is about to issue a bond with quarterly coupon ​payments, an annual coupon rate...

Les Company is about to issue a bond with quarterly coupon ​payments, an annual coupon rate of 9​%, and a par value of 1,000.00 The yield to maturity for this bond is 8​%.

a. What is the price of the bond if it matures in

5-

10​-

15​-

20 -

​years?

b. What do you notice about the price of the bond in relationship to the maturity of the​ bond?

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