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Burrito Bell issued a series of $1,000 bonds eight years ago with an annual coupon rate of $100. The bonds mature 12 years from now.
Burrito Bell issued a series of $1,000 bonds eight years ago with an annual coupon rate of $100. The bonds mature 12 years from now. If an investor requires a 6 percent return on this investment, what would be the price of a Burrito Bell bond? (Use a Financial calculator to arrive at the answers. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Price of a bond $
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