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(Related to Checkpoint 9.3) (Bond valuation)Calculate the value of a bond that matures in 11 years and has a $ 1 comma 000 par value.

(Related to Checkpoint 9.3) (Bond valuation)Calculate the value of a bond that matures in 11 years and has a $ 1 comma 000 par value. The annual coupon interest rate is 8 percent and the market's required yield to maturity on a comparable-risk bond is 9 percent.

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