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A corporate bond which will mature in 15 years, with a $1,000 face value. The bond's annual coupon rate is 16 percent, and the investor's

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A corporate bond which will mature in 15 years, with a $1,000 face value. The bond's annual coupon rate is 16 percent, and the investor's required a rate of return of 9 percent. What will be the value of this bond? The value of the bond is $ (Round to the nearest cent.)

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