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2. (5 points) The Atlanta Tech Company bond has an annual coupon rate of 4.8%, pays interest semi-annually and has a face value of $1,000.

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2. (5 points) The Atlanta Tech Company bond has an annual coupon rate of 4.8%, pays interest semi-annually and has a face value of $1,000. If there are 23 years to maturity and your required rate of return on bonds of this risk level is 5.40%, what is the bonds value to you? (With this problem solve for its present value and show all work with the formula)

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