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Edward being more conservative with his money wants to buy a bond fromthe Quileute Corporation. The bond has 20 years to maturity. The bond has

Edward being more conservative with his money wants to buy a bond fromthe Quileute Corporation. The bond has 20 years to maturity. The bond has acoupon rate of 7.5%. Similarly rated bonds yield 8.8%. Par is $1000.Payments are made semi-annually. How much should he pay for the bond

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