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6 . The Chestnut Company has a level - coupon bond outstanding ( face value = $ 1 , 0 0 0 ) that pays

6. The Chestnut Company has a level-coupon bond outstanding (face value = $1,000) that pays $120 per year and has 5 years to maturity. If the yield for similar bonds is currently 14%, what is the bonds value?

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