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Swanson, Inc bonds have a 12% coupon rate with semi-annual coupon payments. They have 22 years to maturity and a par value of $1,000. Suppose

Swanson, Inc bonds have a 12% coupon rate with semi-annual coupon payments. They have 22 years to maturity and a par value of $1,000. Suppose you decide to buy the bond, and immediately afterwards interest rates drop to 9.5%. How much value has the bond gained or loss?

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