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IBM has outstanding a bond issue that will mature to its $1,000 par value in 30 years. The bond has a coupon interest rate of

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IBM has outstanding a bond issue that will mature to its $1,000 par value in 30 years. The bond has a coupon interest rate of 9% and pays interest annually. Find the value of the bond if the yield to maturity is 15%. In other words, what is the value of the bond today

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