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Suppose that a bond has a coupon rate of 8 % , a ( remaining ) maturity of 1 5 years, a par value of

Suppose that a bond has a coupon rate of 8%, a (remaining) maturity of 15 years, a par value of $1,000, and pays semiannual coupon payments. If bonds of similar maturity and credit quality are currently returning 10% per year, what is the value of this bond?

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