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Donald Martin just received a cash gift from his grandfather. He plans to invest in a five-year bond issued by Ivanhoe Corp. that pays an

Donald Martin just received a cash gift from his grandfather. He plans to invest in a five-year bond issued by Ivanhoe Corp. that pays an annual coupon rate of 4.0 percent. If the current market rate is 9.00 percent, what is the maximum amount Donald should be willing to pay for this bond? (Round answer to 2 decimal places, e.g. 15.25.) Donald should pay $

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