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What is the fair market value of a bond with the following features: (a) par value of $1000, (b) coupon payment of $30, and (c)

What is the fair market value of a bond with the following features: (a) par value of $1000, (b) coupon payment of $30, and (c) 5-year maturity? Assume that current interest rates are 3%.

$1000.00. $1055.00. $1075.50. $995.00.

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