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Compute the price of a $ 8,818 par value, 12 percent coupon consol, or perpetual bond (i.e., coupon interest payment is a perpetuity), assuming that

Compute the price of a $ 8,818 par value, 12 percent coupon consol, or perpetual bond (i.e., coupon interest payment is a perpetuity), assuming that the yield to maturity on the bond is 10 percent.

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