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You plan to invest in Fixed income so you have decided that Corporate Bonds are appropriate for your investment needs. You find a bond that

You plan to invest in Fixed income so you have decided that Corporate Bonds are appropriate for your investment needs. You find a bond that that matures in 28 years, yields 9.47% and makes coupon payments of 11%. If the par value equals $1,000, what is the most you must be willing to pay for each Bond?

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