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25 marks) Bond Values A Steel Co. Industries bond has a 10 percent coupon rate and a $1,000 face value. Interest is paid semiannually, and

25 marks) Bond Values A Steel Co. Industries bond has a 10 percent coupon rate and a $1,000 face value. Interest is paid semiannually, and the bond has 20 years to maturity. If investors require a 12 percent yield, what is the bond's value? What is the effective annual yield on the bond

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