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The market interest rate for Christian Charities is 8% on January 1, 2008. On that day, Christian Charities issued the following bonds.

A. $500,000 7-year 7% bond
B. $300,000 10-year 9% bond

For both bonds, interest is paid semiannually on June 30 and December 31 each year up until maturity. Compounding is done semiannually.

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