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5 1 A company has a $ 1 , 0 0 0 par value, 3 0 - year bond outstanding that was issued 1 5

51 A company has a $1,000 par value, 30-year bond outstanding that was issued 15 years ago at an annual coupon rate of 6%, paid semiannually. Market interest rates on similar bonds are 4%. Calculate the bond's price. Do not use excel formula

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