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A coupon bond that pays interest semiannually has a par value of $ 1 , 0 0 0 , matures in 1 0 years, and

A coupon bond that pays interest semiannually has a par value of $

1, 000,

matures in

10

years, and has a required yield of

5 % .

If the coupon rate is

6 %,

the intrinsic value of the bond today will be

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