A ten year bond pays 10 percent annual coupon on the semiannual basis Also, this bond pays a face value of $1,000 If similar bonds are currently yielding 12 percent annually, what is the market value of the bond (5 points)

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A ten-year bond pays 10 percent annual coupon on the semiannual basis. Also, this bond pays a face value of $1,000. If similar bonds are

A ten-year bond pays 10 percent annual coupon on the semiannual basis. Also, this bond pays a face value of $1,000. If similar bonds are currently yielding 12 percent annually, what is the market value of the bond? (5 points)

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