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Question 2 (1 point) Pet Food Company bonds pay an annual coupon rate of 8.10 percent. Coupon payments are paid semiannually. Bonds have 5 years

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Question 2 (1 point) Pet Food Company bonds pay an annual coupon rate of 8.10 percent. Coupon payments are paid semiannually. Bonds have 5 years to maturity and par value of $1,000. Compute the value of Pet Food Company bonds if the market interest rate on this type of bond is 11.85 percent. Round the answer to two decimal places. All the work has to be shown

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