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Consider a bond with a coupon rate of 10% and annual coupons. The par value is $1,000, and the bond has 10 years to maturity.

Consider a bond with a coupon rate of 10% and annual coupons. The par value is $1,000, and the bond has 10 years to maturity. The yield to maturity (return to bondholder) is 10%. What is the value of the bond?

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