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1)Michael purchases a $1000 par value 16-year bond with annual coupons at 5.3% which will...

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Accounting

1)Michael purchases a $1000 par value 16-year bond with annual coupons at 5.3% which will be redeemed at C. Michael's purchase price is $1289.78 and the present value of the redemption value is $648.79. The redemption value C is equal to?

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