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3. Malindi Ltd has a 12% bond (per value Shs. 1000). This bond pays interest at the end of each year and has four years

3. Malindi Ltd has a 12% bond (per value Shs. 1000). This bond pays interest at the end of each year and has four years to maturity.

Required:

Determine the value of this bond if required return is 10%

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