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Abond with 14 years to maturity and a coupon rate of 14% has a par, or face, value of $20,000. Interest is paid annually if

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Abond with 14 years to maturity and a coupon rate of 14% has a par, or face, value of $20,000. Interest is paid annually if you require a return of 11% on this bond, what is the price of the bond? The value of the bond is $ (Round to the nearest cent)

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