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2) If a perpetual bond pays $41.62 per annum forever, and the current yield to maturity is 7%, what is the value of the perpetual

2) If a perpetual bond pays $41.62 per annum forever, and the current yield to maturity is 7%, what is the value of the perpetual bond? (Please enter your answer to the nearest cent and exclude using "$" or "," symbols etc.)

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