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You own a bond with a 6% coupon rate and $1,000 par value. Assume payments are made semi-annually and the bond matures in 20 years.

You own a bond with a 6% coupon rate and $1,000 par value. Assume payments are made semi-annually and the bond matures in 20 years. The annual market interest rate is 9% percent. Calculate the value of the bond

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