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A Microgates Industries bond has a 1 0 percent coupon rate and a $ 1 , 0 0 0 face value. Interest is paid semiannually,

A Microgates Industries bond has a 10 percent coupon rate and a $1,000 face value. Interest
is paid semiannually, and the bond has 20 years to maturity.
a) If investors require a 12 percent yield, what is the bonds value?
b) What is the percentage effective annual yield on the bond?

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