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A bond with 9 years to maturity and a coupon rate of 12% has a par, or face, value of $18,000. Interest is paid annually.

A bond with 9 years to maturity and a coupon rate of 12% has a par, or face, value of $18,000. Interest is paid annually. If you require a return of 8% on this bond, what is the price of the bond? K The value of the bond is $ (Round to the nearest cent.) ID
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The value of the bond is s (Round to the nearest cent)

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