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$1000 par value bond has a 10% coupon rate, interest on the bond is paid annually, its current yield to maturity is 8%, and its
$1000 par value bond has a 10% coupon rate, interest on the bond is paid annually, its current yield to maturity is 8%, and its maturity is twenty years. What is the value of the bond? a) $616.28 b) $981.81 c) $1000.00 d) $1196.36
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