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

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Bond valuation Quarterly interest Calculate the value of a $500-par-value bond paying quarterly interest at an annual coupon interest rate of 12% and having 12 years until maturity if the required retum on similar-risk bonds is currently a 11% annual rate paid quarterly. The present value of the bond is SL nothing.(Round to the nearest cent.)

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