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A bond issued by Nesmith Corporation has a $10,000 par value and an 8% annual coupon. The bond has 14 years left to maturity. An
A bond issued by Nesmith Corporation has a $10,000 par value and an 8% annual coupon. The bond has 14 years left to maturity. An investor believes the bond should yield 11%. What would she be willing to pay for the bond? Answer rounded to the nearest whole dollar. Do not put a comma in your answer. Be mindful of signs.
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