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( Bond valuation ) FloraCo.'s bonds, maturing in 19 years, pay 11 percent interest on a $1,000 face value.However, interest is paid semiannually. If your

(Bond valuation) FloraCo.'s bonds, maturing in 19 years, pay 11 percent interest on a $1,000 face value.However, interest is paid semiannually. If your required rate of return is 5 percent, what is the value of thebond? How would your answer change if the interest were paidannually?

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