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10 pts 3. Remember Me, Inc would like to pay for that new equipment. They decided NOT to try to sell more common stock, opting
10 pts 3. Remember Me, Inc would like to pay for that new equipment. They decided NOT to try to sell more common stock, opting instead to sell bonds. Their bonds sold for (face/maturity value) $1,000. They have a maturity of 20 years. The coupon on the bonds was 6%. Let's say you bought this bond when it was issued in 2017. Four years later you have the bright idea of buying another investment, but you are short cash. You sell your Remember Me, Inc. bond in the secondary market. You find that similar bonds now are carrying a 8% market rate. What should be the value of your bond now in 2021? You must show the formula and all work
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