What is market value of bond

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Reference no: EM131346283

Knight, Inc., has issued a three-year bond that pays a coupon rate of 5.14 percent. Coupon payments are made semiannually. Given the market rate of interest of 5.42 percent, what is the market value of the bond? (Round answer to 2 decimal places, e.g. 15.25.)

Reference no: EM131346283

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