What is the current value of bond

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Due to recent bad press, a major healthcare company has experienced a market reevaluation. The firm has a $1,000 bond issue outstanding with 15 years to maturity and a coupon rate of 8%, with interest paid semiannually. The required nominal rate on this debt has now risen to 16%. What is the current value of this bond?

Reference no: EM131318262

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