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Homework: 4-1 MyFinanceLab Assignment Question 2, P9-3 (similar to) HW Score: 0%, 0 of 50 points O Points: 0 of 4 (Related to Checkpoint 9.3)

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Homework: 4-1 MyFinanceLab Assignment Question 2, P9-3 (similar to) HW Score: 0%, 0 of 50 points O Points: 0 of 4 (Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 14 years and has a $1,000 par value. The annual coupon interest rate is 12 percent and the market's required yield to maturity on a comparable-risk bond is 15 percent. The value of the bond is $ (Round to the nearest cent.)

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