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1) Calculate the market value or present value of a bond that promises the payment of $1,400,000 ($1,000,000 principal and $400,000 interest), with interest calculated

1) Calculate the market value or present value of a bond that promises the payment of $1,400,000 ($1,000,000 principal and $400,000 interest), with interest calculated at the rate of 4% annually for 10 years.

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