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A bond issued a number of years ago has 3 years remaining till maturity. Its par value is dollar 1000, and its coupon rate is

A bond issued a number of years ago has 3 years remaining till maturity. Its par value is dollar 1000, and its coupon rate is 12%, with semiannual payments. Find its present value, and its duration, if similar 3- year bonds today yield 8%

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