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D Max Corporations bond has a 7% coupon rate and a $1,000 face value. The coupon is paid semi-annually and the bond has 25 years

D Max Corporations bond has a 7% coupon rate and a $1,000 face value. The coupon is paid semi-annually and the bond has 25 years to maturity. If the bond holders required rate of return is 6% per annum

Calculate the value of the bond

Identify whether it is a premium, par or a discount bond.

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