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(Bond valuation) Calculate the value of a bond that will mature in 16 years and has a $1,000 face value. The annual coupon interest rate

(Bond valuation) Calculate the value of a bond that will mature in 16 years and has a $1,000 face value. The annual coupon interest rate is 9 percent, and the investor's required rate of return is 13 percent. Question content area bottom Part 1 The value of the bond is $enter your response here. (Round to the nearest cent.)

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