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A 25 -year bond was issued 4 years ago with a face value of $8,000. The coupon rate is 10% for this semi-annual coupon-paying bond.
A 25 -year bond was issued 4 years ago with a face value of $8,000. The coupon rate is 10% for this semi-annual coupon-paying bond. If the market yield-to-maturity for this bond is 13%, what would be the value of the bond? (Do NOT use a negative sign to the answer, which should be rounded to 2-decimal places)
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