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A 10 year bond issued today by Carris, Inc. has a coupon rate of 10%, a required return of 6% and a face value of

A 10 year bond issued today by Carris, Inc. has a coupon rate of 10%, a required return of 6% and a face value of $1000. The bond will be sold 5 years from now when interest rates will be 8%. What is the ending value of the bond when it is sold (to the nearest dollar)?

$1,080

$1,064

$1,000

$1,375

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