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Bond valuation Quarterly interest Calculate ne value of a $500 par value bond paying quarterly interest at an annual coupon interest rate of 12% and

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Bond valuation Quarterly interest Calculate ne value of a $500 par value bond paying quarterly interest at an annual coupon interest rate of 12% and having 10 years until maturity if the required return on similar-risk bonds is currently a 16% annual rate paid quarterly. The present value of the bond is $(Round to the nearest cent.)

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