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Calculate the present value of a bond that has a face value of $ 1 , 0 0 0 , an annual coupon rate of

Calculate the present value of a bond that has a face value of $

1, 000,

an annual coupon rate of

6 %,

matures in

10

years, and the market's required yield is

4 % .

Assume coupons are paid quarterly.

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