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Flora Co.s bonds, maturing in 7 years, pay 4 percent interest (coupon rate) on a $1,000 face value. However, interest (coupon) is paid semiannually. If
Flora Co.s bonds, maturing in 7 years, pay 4 percent interest (coupon rate) on a $1,000 face value. However, interest (coupon) is paid semiannually. If your required rate of return is 5 percent, what is the value (price) of the bond? Please indicate the inputs for the financial calculator of solving this question.
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