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Business, 30.10.2020 18:10 twilov2878

A 25 year bond issued today by Carris, Inc. has a coupon rate of 11%, a required return of 12% and a face value of $1000. The bond will be sold 8 years from now when interest rates will be 9%. What is the beginning value of the bond when it is issued (to the nearest dollar)

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