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A $1000 par value 20-year bond with a coupon rate of 10% payable semiannually and redeemable at par is bought to yield 9% convertible semiannually.
A $1000 par value 20-year bond with a coupon rate of 10% payable semiannually and redeemable at par is bought to yield 9% convertible semiannually.
Find the book value of the bond just after the 8th coupon is paid.
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