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Sheridan, Inc., has issued a three-year bond that pays a coupon rate of7.0percent. Coupon payments are made semiannually. Given the market rate of interest of4.6percent,

Sheridan, Inc., has issued a three-year bond that pays a coupon rate of7.0percent. Coupon payments are made semiannually. Given the market rate of interest of4.6percent, what is the market value of the bond?(Round answer to 2 decimal places, e.g. 15.25.)

Market value$

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