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Assume that you wish to purchase a bond with a 20-year maturity left, a coupon rate of 8 percent (S.E.), a face value of $1,000,

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Assume that you wish to purchase a bond with a 20-year maturity left, a coupon rate of 8 percent (S.E.), a face value of $1,000, and semiannual interest payments. If you require a 12 percent nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond? O $701.22 $1,395.86 $699.07 O $1.392.73

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