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Consider a bond with a coupon rate of 8% that pays semiannual interest and matures in three years. The face value of the bond is

Consider a bond with a coupon rate of 8% that pays semiannual interest and matures in three years. The face value of the bond is $1,000. The market rate of return on bonds of this risk is currently 11%. What is the current value of the bond?

$925.07

$830.58

$929.17

$854.08

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