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5. On the 1st October 2009 Nisha Limited issued bonds with a maturity date of 1st October 2019. One Nisha bond has a face value

5. On the 1st October 2009 Nisha Limited issued bonds with a maturity date of 1st October 2019. One Nisha bond has a face value of $100,000 and the coupon rate is 8.50% p.a. with interest payable half-yearly. Assuming the market yield is 3.5% p.a. calculate the present value of the bond.

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