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(Bond valuation) Flora Co.'s bonds, maturing in 14 years, pay 11 percent interest on a $1,000 face value. However, interest is paid semiannually. If your

(Bond valuation) Flora Co.'s bonds, maturing in 14 years, pay 11 percent interest on a $1,000 face value. However, interest is paid semiannually. If your required rate of return is 8 percent, what is the value of the bond?

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$1,000

$1,739.20

$1,247.33

$1,249.95

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