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Assume that a 15-year semi-annual, 8% bond is callable after 10 years at 103% of par value and the discount rate in todays market is

Assume that a 15-year semi-annual, 8% bond is callable after 10 years at 103% of par value and the discount rate in todays market is 6%. Using the price-to-worst method, what is the value of this bond?

$1,209

$1,165

$1,314

$1,000

$1,089

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