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Intro One of IBM's bond issues has an annual coupon rate of 3.8%, a face value of $1,000 and matures in 9 years. Attempt 1/5

Intro

One of IBM's bond issues has an annual coupon rate of 3.8%, a face value of $1,000 and matures in 9 years.

Attempt 1/5 for 10 pts.

Part 1

What is the value (or price) of the bond if the required return is 5%?

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