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You are given the following information with respect to a non-callable bond: - par amount: 1,000 - term to maturity: 4 years - annual coupon

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You are given the following information with respect to a non-callable bond: - par amount: 1,000 - term to maturity: 4 years - annual coupon rate: 8% payable annually Each interest rate scenario has an equal probability of occurring. Calculate the value of the bond (i.e. the expected present value of the bond payments)

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