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Moerdyk Corporation's bonds have a 15-year maturity, a 5.25%coupon rate with interest paid semiannually, and a par value of$1,000. The nominal required rate of return on these bonds is7.25%. What is the bond’s intrinsic value? Enter your answerrounded to two decimal places. Do not enter $ or comma in theanswer box. For example, if your answer is $12,300.456 then enteras 12300.46 in the answer box.
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