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6) ATY plc issues a bond with par value of 100 in December 2020, redeemable in December 2026 at par value. The coupon rate for

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6) ATY plc issues a bond with par value of 100 in December 2020, redeemable in December 2026 at par value. The coupon rate for this bond is 8%, paid annually. Presently, the market required rate of return is 7%. Calculate the present value of the bond. (4 marks)

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