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A bond of Telink Corporation pays $120 in annual interest, with a $1000 par value....

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Accounting

A bond of Telink Corporation pays $120 in annual interest, with a $1000 par value. The bonds mature in 10 years. The market's required yield to maturity on a comparable-risk bond is 8 percent. What is the value of the bond if the market's required yield to maturity on a comparable risk bond increases to 13 percent?

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