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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 $1,000 par value. The annual coupon
(Related to Checkpoint 9.3) (Bond valuation)Calculate the value of a bond that matures in
17
years and has a
$1,000
par value. The annual coupon interest rate is
9
percent and the market's required yield to maturity on a comparable-risk bond is
12
percent.
The value of the bond is
$nothing.
(Round to the nearest cent.)
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