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Consider a bond with a coupon rate of 6 percent that pays semiannual interest and matures in eight years. The market rate of return on

Consider a bond with a coupon rate of 6 percent that pays semiannual interest and matures in eight years. The market rate of return on bonds of this risk is currently 10 percent. What is the current value of a $1,000 face value bond? (show your work)

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