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Question 3: A $1,000-par value bond issued by Verizon has a coupon rate of 9.5%. The bond has 20 years left to maturity and the

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Question 3: A $1,000-par value bond issued by Verizon has a coupon rate of 9.5%. The bond has 20 years left to maturity and the market's required yield to maturity for similarly rated debt was 6%. What is the value of the bond

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