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An investor purchases a zero coupon bond with 14 years to maturity at a price of $508.42. The bond has a par value of $1,000.

An investor purchases a zero coupon bond with 14 years to maturity at a price of $508.42. The bond has a par value of $1,000. What is the implicit interest for the first year? Assume semiannual compounding. Multiple Choice $22.02 $23.97 $25.80 $25.17 $24.33

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