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Bond valuationSemiannual interest Find the value of a bond maturing in 6 years, with a $1,000 par value and a coupon interest rate of 9%

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Bond valuationSemiannual interest Find the value of a bond maturing in 6 years, with a $1,000 par value and a coupon interest rate of 9% (4.5% paid semiannually) if the required return on similar-risk bonds is 12% annual interest (6% paid semiannually). The present value of the bond is $ (Round to the nearest cent.)

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