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Hi. This is from Principles of Managerial Finance 14th Edition. Chapter 6. Warm up exercise E6-7. A bond with 5 years to maturity and a

Hi. This is from Principles of Managerial Finance 14th Edition. Chapter 6. Warm up exercise E6-7. "A bond with 5 years to maturity and a coupon rate of 6% has a par, or face, value of $20,000. Interest is paid annually. If you required a return of 8% on this bond, what is the value of this bond to you?"

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