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McAllister Inc sold a 5 year bond 3 years ago with a $40 coupon at par. If the current interest rate demanded by the market

McAllister Inc sold a 5 year bond 3 years ago with a $40 coupon at par. If the current interest rate demanded by the market is 0.15, what is the present value of the bond today? The bond has a par value of $1,000

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