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Company Rioja bonds have the following terms: they mature in 15 years; they pay semiannual interest of $75; their par value is $1,000. If the

Company Rioja bonds have the following terms: they mature in 15 years; they pay semiannual interest of $75; their par value is $1,000. If the (annual) market rate of interest on similar bonds is 6.5% what is the market value of Company Rioja bonds? (round to the nearest dollar)

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