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Warm-Up 6-7 (similar to) Question Help A bond with 8 years to maturity and a coupon rate of 7% has a par, or face, value

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Warm-Up 6-7 (similar to) Question Help A bond with 8 years to maturity and a coupon rate of 7% has a par, or face, value of $18,000. Interest is paid annually. If you require a return of 9% on this bond, what is the price of the bond? The value of the bond is $ . (Round to the nearest cent.)

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