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Two years ago, your firm sold $250 million worth of bonds to buy new equipment. The bonds had a denomination of $1,000 each with an

Two years ago, your firm sold $250 million worth of bonds to buy new equipment. The bonds had a denomination of $1,000 each with an original maturity of 12 years and a coupon rate of 12%. Determine the value today of one of these bonds to an investor who requires a 14% rate of return

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