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John purchases a 1000 par value 10-year bond with coupons at 8% convertible semian- nually which will be redeemed for R. The purchase price is

John purchases a 1000 par value 10-year bond with coupons at 8% convertible semian- nually which will be redeemed for R. The purchase price is 800 and the present value of the redemption value is 301.51. Calculate R.

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