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11. You purchase a 20 year junk bond with a Yield to Maturity of 15%. If the bond pays an annual coupon of $750 and

11. You purchase a 20 year junk bond with a Yield to Maturity of 15%. If the bond pays an annual coupon of $750 and has a par value of $10,000, what is the Market Value of the bond? Please show your TVM reasoning and your proposed solution to earn full credit

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