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vanhoe Corp is issuing a 10-year bond with a coupon rate of 8 percent. The interest rate for similar bonds is currently 4 percent. Assuming

vanhoe Corp is issuing a 10-year bond with a coupon rate of 8 percent. The interest rate for similar bonds is currently 4 percent. Assuming annual payments, what is the value of the bond? (Round answer to 2 decimal places, e.g. 15.25.)

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