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Ivanhoe, Inc., has outstanding bonds that will mature in six years and pay an 8 percent coupon semiannually. If you paid $993.21 today and your

Ivanhoe, Inc., has outstanding bonds that will mature in six years and pay an 8 percent coupon semiannually. If you paid $993.21 today and your required rate of return was 7.5 percent. How much should you have paid for the bond?

Worth of the bond: $

Did you pay the right price for the bond?

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