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A bond with 13 years to maturity and a coupon rate of 13% has a par, or face, value of $20,000 Interest is paid annually

A bond with 13 years to maturity and a coupon rate of 13% has a par, or face, value of $20,000 Interest is paid annually If you require a return of 15% on this bond what is the price of the bond? The value of the bond is (Round to the nearest cont)

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