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You are offered bonds with a $100,000 face value and 15 years left to maturity. The coupon rate of the bond is 7% and the

You are offered bonds with a $100,000 face value and 15 years left to maturity. The coupon rate of the bond is 7% and the bond makes semi-annual coupon payments. If the expected return on the bond is 8%, what is the most you should pay for this bond? Solve using BA II Plus calculator and equation.

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