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(Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 17 years and has a 51,000 par value: The annual

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(Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 17 years and has a 51,000 par value: The annual coupon interest rate is 16 percent and the market's required yield to maturity on a comparable-risk bond is 12 percent The value of the bond is 5 (Round to the nearest cent)

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