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A bond with 5 years to maturity and a coupon rate of 15% has a par, or face, the value of $19,000. Interest is paid

A bond with 5 years to maturity and a coupon rate of 15% has a par, or face, the value of $19,000. Interest is paid annually. If you require a return of 18% on this bond, what is the price of the bond?

Part 1

The value of the bond is $enter your response here

. (Round to the nearest cent.)

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