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Problem:

What is the value of a bond that matures in 14 years, has an annual coupon payment of $110, and a par value of $1,000? Assume a required rate of return of 8%, and round your answer to the nearest $10.

A.$1,000

B.$1,280

C.$1,330

D.$1,250

Note: Please describe comprehensively and provide step by step solution.

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Category:- Basic Finance
Reference No.:- M91147912

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