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A bond with a face value of $17,000 pays interest of 5% per year. This bond will be redeemed at par value at the end

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A bond with a face value of $17,000 pays interest of 5% per year. This bond will be redeemed at par value at the end of its 12-year life, and the first interest payment is due one year from now. If you want a 11% return rate, what is the highest price that you'd be willing to pay for the bond

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