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Sunland Corp is issuing a 1 0 - year bond with a coupon rate of 9 percent. The interest rate for similar bonds is currently

Sunland Corp is issuing a 10-year bond with a coupon rate of 9 percent. The interest rate for similar bonds is currently 8 percent. Assuming annual payments, what is the value of the bond? Assume face value is 1,000.
(Round answer to 2 decimal place

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