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A coupon bond issued by an Australian company in Sydney pays annual interest, has a par value of $1,000, matures in 10 years, has a
A coupon bond issued by an Australian company in Sydney pays annual interest, has a par value of $1,000, matures in 10 years, has a coupon rate of 6.23% per annum, and has a yield to maturity of 18.55% per annum. The current intrinsic value of the bond should be $Answer . (Note: answer must be accurate to nearest cent, or 2 decimal places but you may leave your answer with more than 2 decimal places.)
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