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eBook Eleven years ago, Elite Elements issued a 15-year bond with a $1,000 face value and a 4 percent coupon rate of interest (paid
eBook Eleven years ago, Elite Elements issued a 15-year bond with a $1,000 face value and a 4 percent coupon rate of interest (paid semiannually). If investors require a return equal to 10 percent to invest in similar bonds, what is the current market value of Elite's bond? Do not round intermediate calculations. Round your answer to the nearest cent. $
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Understanding Financial Statements
Authors: Lyn Fraser, Aileen Ormiston
11th edition
133874036, 978-0133874037
