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You buy a 12 percent, 15-year, $1,000 par value floating rate bond in 1999. By the year 2004, rates on bonds of similar risk are

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You buy a 12 percent, 15-year, $1,000 par value floating rate bond in 1999. By the year 2004, rates on bonds of similar risk are up to 14 percent. What is your one best guess as to the value of the bond? Value of the bond

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