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You buy a 6 percent, 15-year, $1,000 par value floating rate bond in 1999. By the year 2014, rates on bonds of similar risk are

You buy a 6 percent, 15-year, $1,000 par value floating rate bond in 1999. By the year 2014, rates on bonds of similar risk are up to 8 percent.

What is your one best guess as to the value of the bond?

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