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(Bond valuation) Calculate the value of a bond that matures in years and has a $1,000 par value.

/in /by

(Bond valuation) Calculate the value of a bond that matures in years and has a $1,000 par value. The annual coupon interest rate is 13 percent and the market’s required yield to maturity on a comparable-risk bond is 8 percent.

The value of the bond is $ . (Round to the nearest cent.)

 
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