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Bond Valuation. Mark has a Treasury bond that has a par value of $50,000 and a coupon rate of 8%. The bond has 10 years

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Bond Valuation. Mark has a Treasury bond that has a par value of $50,000 and a coupon rate of 8%. The bond has 10 years to maturity. Mark needs to sell the bond and new bonds are currently carrying coupon rates of 5%. For what price should Mark sell the bond in this situation? Mark should sell the bond for $(Round to the nearest cent.)

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