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You are considering buying bonds in ACBB, Inc. The bonds have a par value of $1,000 and mature in 16 years. The annual coupon rate

You are considering buying bonds in ACBB, Inc. The bonds have a par value of $1,000 and mature in 16 years. The annual coupon rate is 18.0% and the coupon payments are annual. If you believe that the appropriate discount rate for the bonds is 16.0%, what is the value of the bonds to you?

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