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Assume a $1.000 face value bond has a coupon rate of 6.4 percent paid semiannually and has an eight-year life. (a) If investors are willing

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Assume a $1.000 face value bond has a coupon rate of 6.4 percent paid semiannually and has an eight-year life. (a) If investors are willing to accept a 10.9 percent rate of return on bonds of similar quality. what is the present recthef this bond? (Round final answer to nearest dollar amount.) Present value $

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