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Suppose you are considering selling a bond to finance the construction of a new building. The bond's face value is $ 3 , 0 0

Suppose you are considering selling a bond to finance the construction of a new building. The bond's face value

is $

3, 000, 000 .

Interest is compounded annually ay

4 % .

The bond makes coupon payments of $

1, 000

annually,

and the duration of the bond is

10

years. What is the price of the bond?

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