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3. (12 pts)Assume that the bonds of XYZ have a par value of $1,000, mature in 15 years, and make an annual coupon interest payment

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3. (12 pts)Assume that the bonds of XYZ have a par value of $1,000, mature in 15 years, and make an annual coupon interest payment of $65. If the market requires an interest rate of 8.2% on these bonds, what is the bond's price? Assuming interest rates do not change, what would be an investor's capital gains yield be if they purchased this bond today and sold it next year

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