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A consol ( bond with no maturity date ) was issued by the British government five years ago. The consol pays $ 5 0 in

A consol (bond with no maturity date) was issued by the British government five years ago. The consol pays $50 in interest every 6 months. If the current annual discount rate is 8.0%, what should this bond sell for in the market?
$625
$1,000
$2,000
$8,000
$1,250
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