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QUESTION
A coupon bond that pays interest annually has a par value of $1,000, matures in 5 years, and has a yield to maturity of 10%.
A coupon bond that pays interest annually has a par value of $1,000, matures in 5 years, and has a yield to maturity of 10%. The intrinsic value of the bond today will be ______ if the coupon rate is 7%.
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