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Rogff Co. 's 13-year bond have an annual coupon rate of 7.1%. Each bond has a face value of R1128 and makes semi-annual interest payments.

Rogff Co. 's 13-year bond have an annual coupon rate of 7.1%. Each bond has a face value of R1128 and makes semi-annual interest payments. If you require an 10.9% nominal yield to maturity on this investment.

What is the maximum price you should be willing to pay for the bond?

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