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Walmart has an issue of 9 years, $1,000 par value bonds with a 15 percent coupon interest rate outstanding sells for $950. The issue pays

Walmart has an issue of 9 years, $1,000 par value bonds with a 15 percent coupon interest rate outstanding sells for $950. The issue pays interest after every 6 months interval. Bonds of similar risk are currently selling to yield a 13 percent rate of return. (a) What is the value of these Walmarts bonds? (b) Would you buy this bond? Why?

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