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Problem 21 Intro One of IBM's bond issues has an annual coupon rate of 3.8%, a face value of $1,000 and matures in 9 years.

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Problem 21 Intro One of IBM's bond issues has an annual coupon rate of 3.8%, a face value of $1,000 and matures in 9 years. Part 1 0 8 Attempt 1/2 for 10 pts. What is the value (or price) of the bond if the required return is 5%? No decimals Submit Show all parts

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