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(Related to Checkpoint 9.3) (Bond valuation)Calculate the value of a bond that matures in 16 years and has a $ 1, 000 par value. The

(Related to Checkpoint 9.3) (Bond valuation)Calculate the value of a bond that matures in 16 years and has a $ 1, 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 13 percent. The value of the bond is $ nothing. (Round to the nearest cent.)

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