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6. A bond has a residual value of $ 10,000, a coupon interest rate of 6%, pays the interest semi-annually and has a maturity of

6. A bond has a residual value of $ 10,000, a coupon interest rate of 6%, pays the interest semi-annually and has a maturity of 20 years. Calculate the value of the bond if the required rate of return is 8%. By what name is this type of bond known.

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