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First bank has issued a bond whose par value is 1,000,000 with a coupon rate of 12% p.a, paid semi-annually. The bond maturity is 10

First bank has issued a bond whose par value is 1,000,000 with a coupon rate of 12% p.a, paid semi-annually. The bond maturity is 10 years and market rate of interest is 10%. Jane has expressed her interest in these bonds. How much would you advise her to pay for them

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