The Company has $1,000 par value bonds outstanding at 4% interest with a 20 year maturity.

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  1. The Company has $1,000 par value bonds outstanding at 4% interest with a 20 year maturity. Find the current market price of the bonds if the present yield to maturity is (1) 6 percent; (2) 8 percent; and (3) 12 percent.

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