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Stan Moneymaker has the opportunity to purchase a certain U.S. Treasury bond with a face value of $10,000 and a coupon rate of 8% nominal

Stan Moneymaker has the opportunity to purchase a certain U.S. Treasury bond with a face value of $10,000 and a coupon rate of 8% nominal paid quarterly. If he wishs to earn at least 12% nominal, what should he be willing to pay for the bond if it will be reddmed at face value in 10 years?

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