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Bond Valuation. Mia wants to invest in Treasury bonds that have par value of $20,000 and a coupon rate of 5.1%. The bonds have a
Bond Valuation. Mia wants to invest in Treasury bonds that have par value of $20,000 and a coupon rate of 5.1%. The bonds have a 12-year maturity, and Mia requires an 8% return. How much should Mia pay for her bonds, assuming interest is paid annually? The amount Mia should pay for the bonds is $. (Round to the nearest cent.)
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