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Problem 8.08 Pharoah Real Estate Company management is planning to fund a development project by issuing 10-year zero coupon bonds with a face value of

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Problem 8.08 Pharoah Real Estate Company management is planning to fund a development project by issuing 10-year zero coupon bonds with a face value of $1,000. Assuming semiannual compounding, what will be the price of these bonds if the appropriate discount rate is 10.6 percent? (Round answer to 2 decimal places, e.g. 15.25. Price of the bond s ld like to Show Work for this question: Open Show Work

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