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Bond valuation-Semiannual interest Find the value of a bond maturing in 8 years, with a $1,000 par value and a coupon interest rate of

Bond valuation-Semiannual interest Find the value of a bond maturing in 8 years, with a $1,000 par value and a coupon interest rate of 14% (7% paid semiannually) if the required return on similar-risk bonds is 18% annual interest (9% paid semiannually). The present value of the bond is $ (Round to the nearest cent.)

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