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Regatta Inc. has seven-year bonds outstanding that pay a 13.57 percent coupon rate. Investors buying these bonds today can expect to earn a yield to

Regatta Inc. has seven-year bonds outstanding that pay a 13.57 percent coupon rate. Investors buying these bonds today can expect to earn a yield to maturity of 6.22 percent. What is the current value of these bonds? Assume annual coupon payments.

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