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Cary's Carry-all Company bonds have a 12% coupon rate. Interest is paid semiannually. The bonds have a par value of $1,000 and will mature 8

Cary's Carry-all Company bonds have a 12% coupon rate. Interest is paid semiannually. The bonds have a par value of $1,000 and will mature 8 years from now. Compute the value of these bonds if investors' required rate of return is 8%

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