Suppose a company needs funds for a project so it is selling some $1,000 par...
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Suppose a company needs funds for a project so it is selling some $1,000 par value, 10% annual coupon rate bond with 9 years to maturity. If the bond pays interest monthly and if the market's required rate is 7% then what is the bond selling for currently or what is the value of this bond? (Round your answer to 2 decimal point)
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