please give the detail explaination step by step, Thank you John purchases...
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please give the detail explaination step by step, Thank you 
John purchases a 1000 par value 10 -year bond with coupons at 8% convertible semiannually which will be redeemed for R. The purchase price is 800 and the present value of the redemption value is 301.51 . Calculate R
please give the detail explaination step by step, Thank you
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