Leggio Inc. issued bonds with a 30-year maturity one year ago. The bonds have a 7% coupon, make one payment per year, and sold at their $1,000 par value at issue because the going market rate at the time was 7%. Now, one year later, the market rate has declined from 7% to 5%. At what price should Leggio's bonds now sell?
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Leggio Inc. issued bonds with a 30-year maturity one year ago. The bonds have a 7% coupon, make one...
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