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8. (10 points) Morin Company's bonds mature in 2 years, have a par value of $1,000, and make an annual coupon interest payment of $130.

8. (10 points) Morin Company's bonds mature in 2 years, have a par value of $1,000, and make an annual coupon interest payment of $130. The discount rate is 13.0% on these bonds. What is the bond's value? Steps (9 points)

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