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KK Inc. has a K15 million face value bond issue outstanding. The issue carries a coupon rate of 10% with interest paid semi-annually. The issue

KK Inc. has a K15 million face value bond issue outstanding. The issue carries a coupon rate of 10% with interest paid semi-annually. The issue matures in 6 years. What is the current market value of the bond issue if it is priced to provide a yield to maturity of 16%

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