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You just bought IBM bonds that mature in twenty years. You paid $1,000 (par value). The bonds have a coupon rate of 8 percent. If

You just bought IBM bonds that mature in twenty years. You paid $1,000 (par value). The bonds have a coupon rate of 8 percent. If interest rates fall and the required return on your bond is now 6 percent, what is the value of your bond?

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