Determine the present value of the bond cash flows

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The Garcia Company's bonds have a face value of $1,000, will mature in 10 years, and carry a coupon rate of 17.2 percent. Assume interest payments are made semiannually.

Problem 1: Determine the present value of the bond's cash flows if the required rate of return is 17.2 percent. (Round final answer to nearest dollar amount.)

Reference no: EM132966079

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