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What is the value of a $1,000 par value 9.375% Marriott Corporation bond for each of the following required rates of return, assuming the investor

What is the value of a $1,000 par value 9.375% Marriott Corporation bond for each of the following required rates of return, assuming the investor will hold the bond to maturity? Assume the coupon is paid semiannualy (every six months) and the bond matures in 3 years.

A: 7%

B: 12%

Thank you, will thumbs up if answer is correct

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