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CH8 Q13 Carla Vista Corp is issuing a 10-year bond with a coupon rate of 13 percent. The interest rate for similar bonds is currently

CH8 Q13
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Carla Vista Corp is issuing a 10-year bond with a coupon rate of 13 percent. The interest rate for similar bonds is currently 5 percent. Assuming annual payments, what is the value of the bond? Assume face value is $1,000. (Round onswer to 2 decimal ploces, es. 15.25.) Value of bond

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