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You are interested in investing in a five-year bond thut pays a 6.4 percent coupon rate with interest to be received semiannually. Your required rate

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You are interested in investing in a five-year bond thut pays a 6.4 percent coupon rate with interest to be received semiannually. Your required rate of return is 8.8 percent. What is the most you would be willing to pay for this bond? Assume face value is $1,000. (Round answer to 2 decimal ploces, es. 15.25.) Present value

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