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Dr. Kong owns a bond that is redeemable for RM250 in 6 years from now. He has just received a coupon of RM32.04 and each

Dr. Kong owns a bond that is redeemable for RM250 in 6 years from now. He has just received a coupon of RM32.04 and each subsequent semi-annual coupon will be 2% larger than the preceding coupon. Calculate the present value of this bond immediately after the payment of the coupon. assuming an annual effective yield rate of 4%

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