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A bond has a coupon rate of 6% per annum and will repay its face value of $100 on its maturity in four years' time.

A bond has a coupon rate of 6% per annum and will repay its face value of $100 on its maturity in four years' time. The yield to maturity on similar bonds is 4% per annum. The annual interest has just been paid for the current year. Calculate the expected market value of the bond at today's date.

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