Question: 23. A ( $ 1,000 ) par value bond was issued five years ago at a 8 percent coupon rate. It currently has 7 years

23. A $ \$ 1,000 $ par value bond was issued five years ago at a 8 percent coupon rate. It currently has 7 years remaining to maturity. Interest rates on similar debt obligations are now 12 percent. Use 2 answers

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