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Delta Corporation has a bond issue outstanding with an annual coupon rate of 8% and 9 years remaining until maturity. The par value of the

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Delta Corporation has a bond issue outstanding with an annual coupon rate of 8% and 9 years remaining until maturity. The par value of the bond is $2,000. Determine the current value of the bond if present market conditions justify a 12% nominal annual required rate of return

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