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Sandhill Corp is issuing a 10-year bond with a coupon rate of 13 percent. The interest rate for similar bonds is currently 7 percent. Assuming

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Sandhill Corp is issuing a 10-year bond with a coupon rate of 13 percent. The interest rate for similar bonds is currently 7 percent. Assuming annual payments, what is the value of the bond? (Round answer to 2 decimal places, e.g. 15.25.) Value of bond $ 599.66

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