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The ABC Company bond has an annual coupon rate of 5.50%, pays interest semi-annually and has a face value of $1,000. If there are 22

The ABC Company bond has an annual coupon rate of 5.50%, pays interest semi-annually and has a face value of $1,000. If there are 22 years to maturity and your required rate of return on bonds of this risk level is 6.50%, what is the bonds value to you? (solve for present value and show work with the formula)

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