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Question 13 (5 points) The Escoe Corporation has a 4% annual coupon bond trading on the secondary market. The bond has a face value of

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Question 13 (5 points) The Escoe Corporation has a 4% annual coupon bond trading on the secondary market. The bond has a face value of $1,000 and will mature in exactly 5 years. If investors want a 9% annual return to buy this bond, what is a fair price today? (round to the nearest dollar) $1,054 $806 $1,000 $642 $1,223

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