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Please read the details carefully: consider a coupon bond with a face value of $1,200 that can be collected at the end of the 4th
Please read the details carefully: consider a coupon bond with a face value of $1,200 that can be collected at the end of the 4th year. The bond also includes 3 coupons, paying $300, $500, and $700 at the end of the 1st, 2nd, and 3rd year, respectively. If the equil interest rate is 9% and expected to remain there, what is a fair price for the bond? . When working with exponents, allow your calculator to carry the full answer to the next step. Round your intermediate dollar calculations to the nearest cent (two decimal places) and carry these values throughout the rest of the problem. Express your final answer, rounded to two decimal places. Do not include the $-sign in your answer. Quercus may alter the format of your answer, which is fine
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