What is the value of a bond that has a par value

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Reference no: EM13728595

What is the value of a bond that has a par value of $1,000, a coupon rate of 17.65 percent (paid annually), and that matures in 4 years? Assume a required rate of return on this bond is 14.40 percent.

1) $867.15

2) $1,076.23

3) $1,023.48

4) $1,093.92

Reference no: EM13728595

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