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Calculate the value of a bond that matures in 11 years and has a $1,000 par value. The annual coupon interest rate is 15 percent

Calculate the value of a bond that matures in 11

years and has a

$1,000

par value. The annual coupon interest rate is

15

percent and the market's required yield to maturity on acomparable-risk bond is

13

percent.

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