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A 12-year zero-coupon bond was issued with a $1,000 par value to yield 17%. What is the approximate market value of the bond? Use Appendix

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A 12-year zero-coupon bond was issued with a $1,000 par value to yield 17%. What is the approximate market value of the bond? Use Appendix B. (Round "PV Factor" to 3 decimal places and final answer to the nearest dollar amount.) Multiple Choice O O $114 $228 $304

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