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b. Calculate the value of a $4,000-par-value bond paying quarterly interest at an annual coupon interest rate of 5% and having 10 years until

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b. Calculate the value of a $4,000-par-value bond paying quarterly interest at an annual coupon interest rate of 5% and having 10 years until maturity if the required return on similar-risk bonds is currently a 4% annual rate paid quarterly.

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