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QUESTION
What is the value of a bond that has a par value of $1,000, a coupon rate of 11.25 percent (paid annually), and that matures in 10 years?
What is the value of a bond that has a par value of $1,000, a coupon rate of 11.25 percent (paid annually), and that matures in 10 years? Assume a required rate of return on this bond is 12.37 percent.
