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A bond that matures in 8 years has a $1,000 par value. The annual coupon interest rate is 15 percent and the market's required yield

A bond that matures in 8 years has a $1,000 par value. The annual coupon interest rate is 15 percent and the market's required yield to maturity on a comparable-risk bond is

12 percent. What would be the value of this bond if it paid interest annually? What would be the value of this bond if it paid interest semiannually?

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