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Homework: Chapter 7 HW Save Score: 0 of 1 pt 14 of 22 (3 complete) HW Score: 13.64%, 3 of 22 pts Problem 7-4 (similar

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Homework: Chapter 7 HW Save Score: 0 of 1 pt 14 of 22 (3 complete) HW Score: 13.64%, 3 of 22 pts Problem 7-4 (similar to) Question Help (Bond valuation) Calculate the value of a bond that will mature in 16 years and has a $1,000 face value. The annual coupon interest rate is 15 percent, and the investor's required rate of return is 12 percent. The value of the bond is (Round to the nearest cont.)

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