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Owlets Incorporated bonds have a stated coupon rate of 5% and pay interest on an annual basis. They mature in 12 years and have a

Owlets Incorporated bonds have a stated coupon rate of 5% and pay interest on an annual basis. They mature in 12 years and have a par value of $1,000. The market rate of interest on similar debt is 6%.

Calculate the value of Owlets bonds.

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