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You intend to purchase a 10-year, $1000 face value bond with a coupon rate of 12%, paid semiannually. If your required rate of return is

You intend to purchase a 10-year, $1000 face value bond with a coupon rate of 12%, paid semiannually. If your required rate of return is 10 percent, how much should you be willing to pay for this bond?

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