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You are interested in buying a $ 1 , 0 0 0 par value bond with 3 0 years to maturity and a 1 0

You are interested in buying a $1,000 par value bond with 30 years to maturity and a 10% coupon rate that is paid semiannually. How much should you be willing to pay for the bond if the required rate of return (discount rate) is 11%?

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