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Supposed a top fortune 500 company is selling a 30-year bond with a semiannual coupon of 12 percent, when the going rate on such a

Supposed a top fortune 500 company is selling a 30-year bond with a semiannual coupon of 12 percent, when the going rate on such a bond is 8 percent. How much would you be willing to pay for this bond?

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