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Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value...

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Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 5.40%, based on semiannual compounding. What is the bond's price? a) $1,390.59 b) $1,105.34 c) $962.72 d) $1,307.40 e) $1,188.54

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