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Bond valuation - Quarterly interest Calculate the value of a $1,000-par-value bond paying quarterly interest at an annual coupon interest rate of 9% and having

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Bond valuation - Quarterly interest Calculate the value of a $1,000-par-value bond paying quarterly interest at an annual coupon interest rate of 9% and having 7 years until maturity if the required return on similar-risk bonds is currently a 11% annual rate paid quarterly. The present value of the bond is $ (Round to the nearest cent.)

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