Calculate the value ofa bond that matures in 12 years

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Calculate the value ofa bond that matures in 12 years and has a $1,000 par value. The annual coupon interest rate is 12 percent and the market's required yield to maturity on a comparable-risk bond is 11 percent. The value of the bond is $ . (Round to the nearest cent.)

Reference no: EM133558179

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