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You buy a zero coupon bond at the beginning of the year that has a...

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Accounting

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You buy a zero coupon bond at the beginning of the year that has a face value of $1,000, a YTM of 8 percent, and 17 years to maturity. You hold the bond for the entire year. Assume semiannual compounding. How much interest income will you have to declare on your tax return? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct

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