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Cigna Inc. issued an annual coupon bond with 1 0 % coupon rate last year. It has 2 6 years remaining to maturity. If investors

Cigna Inc. issued an annual coupon bond with

10 %

coupon rate last year. It has

26

years remaining to maturity. If investors require

6 %

return, how much should they pay for the bond? Assume that par value is $

1, 000 .

The bond price

=

.

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