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(10 marks) Question 5 Fortescue Ltd is offering bonds with a coupon rate of 8% pa, paid semi-annually. The par value of each bond is

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(10 marks) Question 5 Fortescue Ltd is offering bonds with a coupon rate of 8% pa, paid semi-annually. The par value of each bond is $1,000 and has eight (8) years to maturity. The yield to maturity is 9%. What is the value of the bond

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