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

7. A bond has a residual value of $ 10,000, a coupon interest rate of 6%, pays the interest anualy and has a maturity of 20 years. Calculate the value of the bond if the required rate of return is 8%. What is also the value of the bond.

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