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ABC, Inc. is selling bonds that have a coupon rate of 4%, a par value of $1,000 and mature in 5years.You require a return of

ABC, Inc. is selling bonds that have a coupon rate of 4%, a par value of $1,000 and mature in 5years.You require a return of 10%to invest in the bonds.How much would you be willing to pay for an ABC bond today?

Round your answer to 2 decimal places, for example 100.12.

Please provide the detail and the formula.

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