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Question 15 You are shopping for a Bond to add to your well diversified investment portfolio. You come across an annual bond paying 9.6% for

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Question 15 You are shopping for a Bond to add to your well diversified investment portfolio. You come across an annual bond paying 9.6% for 17 years with a par value of $1,000, If competitive bond yields in the market are 8.4%, then what is the Fair Market/Present Value of this one? Answer to the penny, and enter without the $ sign

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