Assume required rate of return on this bond

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Reference no: EM13915478

What is the value of a bond that has a par value of $1,000, a coupon rate of 10.40 percent (paid annually), and that matures in 18 years? Assume a required rate of return on this bond is 11.91 percent.

Round the answer to two decimal places.

Reference no: EM13915478

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