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Consider a bond with a face value of $1,000 that matures in 4 years. The annual coupon rate is 12%, and payments are semi-annually. A

Consider a bond with a face value of $1,000 that matures in 4 years. The annual coupon rate is 12%, and payments are semi-annually. A coupon payment was made yesterday. The market interest rates for bonds of this quality and maturity is 8% per annum. What is the value of the bond?

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