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Suppose you have to determine the value of a $1,000 Par-Value bond with a 10 per cent coupon and 9 years to maturity. The coupon

Suppose you have to determine the value of a $1,000 Par-Value bond with a 10 per cent coupon and 9 years to maturity. The coupon rate corresponds to interest payments of $100 a year. If our required rate of return on the bond is 12 per cent then what will be the value of the bond?

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