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Calcuate the calue of a bond that matures 1 9 years and has a 1 , 0 0 0 par value. The annual coupon interest

Calcuate the calue of a bond that matures

19

years and has a

1, 000

par value. The annual coupon interest rate is

11

percent and the markets required yield to maturity on a comparable

-

risk bond is

13

percent

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