Question: Max and Ruby Cat Food, Inc. has issued zero coupon bonds which mature in 20 years. The bonds have a $1,000 par value. The market

Max and Ruby Cat Food, Inc. has issued zero coupon bonds which mature in 20 years. The bonds have a $1,000 par value. The market has priced the bonds to yield or required return is 9%. What is the market price of the bonds ?

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