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Bellingham's bonds have an annual coupon rate of 14 percent and a par value of $1,000 and will mature in15 years. If you require a

Bellingham's bonds have an annual coupon rate of 14 percent and a par value of $1,000 and will mature in15 years. If you require a return of 15 percent, what price would you be willing to pay for the bond? What happens if you pay more for the bond? What happens if you pay less for the bond?

The price you would be willing to pay for the bond is?

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