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8. A corporate bond has a face value of $1000 with a maturity date 20 years from today. The bond pays interest semiannually at a

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8. A corporate bond has a face value of $1000 with a maturity date 20 years from today. The bond pays interest semiannually at a rate of 8% based on the face value. The interest rate paid on similar corporate bonds has decreased to a current rate of 6%. What is the market value of this bond

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