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PLEASE SHOW CLEAR STEPS Lotus Semiconductor issued a 20-year bond 8 years ago. It had a $1,000 par value and paid 8% annual interest compounded

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PLEASE SHOW CLEAR STEPS

Lotus Semiconductor issued a 20-year bond 8 years ago. It had a $1,000 par value and paid 8% annual interest compounded quarterly. Your required rate of return on the bond is 10%. How much are you willing to pay for this bond

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