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You are evaluating a 10-year, $1,000 par value bond. Its coupon rate is 8%, and the coupon is paid quarterly. If you require an effective

You are evaluating a 10-year, $1,000 par value bond. Its coupon rate is 8%, and the coupon is paid quarterly. If you require an effective annual interest rate of 10%, how much should you pay for the bond (keep 2 decimal places in % workings: i.e. x.xx%)?

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