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4B1 What is the value of a bond that has a par value of $1,000, a coupon rate of 11.25 percent (paid annually), and that

4B1

What is the value of a bond that has a par value of $1,000, a coupon rate of 11.25 percent (paid annually), and that matures in 18 years? Assume a required rate of return on this bond is 8.70 percent

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