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Bond valuationSemiannual interest Find the value of a bond maturing in 8 years, with a $1,000 par value and a coupon interest rate of 13%

Bond valuationSemiannual interest Find the value of a bond maturing in 8 years, with a $1,000

par value and a coupon interest rate of 13% (6.5% paid semiannually) if the required return on similar-risk bonds is 14% annual interest (7% paid semiannually).

The present value of the bond is $? (round to the nearest cent)

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