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Five years ago, Grey Ltd issued $ 1 0 0 0 denominations with an original maturity of 1 3 years and a coupon rate of

Five years ago, Grey Ltd issued $

1000

denominations with an original maturity of

13

years and a coupon rate of

10 %

Determine the value today of one of these bonds to an investor who requires a

12 %

rate of return on these securities

.

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