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A coupon bond that pays interest semi-annually has a par value of $1,000, matures in ten years, and has a yield to maturity of 12%.

A coupon bond that pays interest semi-annually has a par value of $1,000, matures in ten years, and has a yield to maturity of 12%. If the coupon rate is 10%, what is the intrinsic value of the bond today?

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