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Hamilton, Inc. bonds have a coupon rate of 9%. The interest is paid​ semiannually, and the...

Hamilton, Inc. bonds have a coupon rate of 9%. The interest is paid​ semiannually, and the bonds mature in 13 years. Their par value is ​$1, 000. If your required rate of return is 11%, what is the value of the​ bond? What is the value if the interest is paid​ annually?

a. If the interest is paid​ semiannually, the value of the bond is ​$ nothing. ​(Round to the nearest​ cent.)

b. If the interest is paid​ annually, the value of the bond is ​$ nothing. ​(Round to the nearest​ cent.)

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