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You have a bond at par value with a coupon of 5.8% maturing in 6 years. Coupons are paid annually. The new bonds of similar

You have a bond at par value with a coupon of 5.8% maturing in 6 years. Coupons are paid annually. The new bonds of similar credit worthiness are now paying a 6.3% coupon. What is the new value of the bond?

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