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15-year bonds of Jones Paper Mill have a face value of $1,000, a 6.75 percent coupon, and pay interest annually. What is one of these

15-year bonds of Jones Paper Mill have a face value of $1,000, a 6.75 percent coupon, and pay interest annually. What is one of these bonds worth to you today if you require a 7.5 percent rate of return?

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