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Bond
valuationlong dashAnnual
interestCalculate the value of the bond shown in the following table, assuming it pays interest
annually.
(Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.)
| Par value | Coupon interest rate | Years to maturity | Required return | |
| $1,000 | 13% | 10 | 8% |
The value of the bond is
$____ .
(Round to the nearest cent.)
Answer & Explanation
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