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Part E: Your are thinking about buying a $ 1 , 0 0 0 bond issued by the Appalachian Development Authority. The bond will pay

Part E: Your are thinking about buying a $1,000 bond issued by the Appalachian Development Authority. The bond will pay $110 interest at the end of the next five years (Years 1 to 5). At the end of Year 6, the bond will pay the coupon plus face value, or $1,110. If the relevant discount rate is 6%, what is the present value of the bond's future payments?

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