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You are considering a 10-year, $1,000 par value bond. Its coupon rate is 11%, and interest is paid semiannually. If you require an effective annual

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You are considering a 10-year, $1,000 par value bond. Its coupon rate is 11%, and interest is paid semiannually. If you require an "effective" annual interest rate (not a nominal rate) of 12%, then how much should you be willing to pay for the bond? [Use ICONV to convert EFF to NOM first] 1017.35 985.10 961.62 943.50

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