Question

​(Bond valuation)  Calculate the value of a bond that matures in 1212 years and has a...

​(Bond valuation)  Calculate the value of a bond that matures in

1212

years and has a

$ 1 comma 000$1,000

par value. The annual coupon interest rate is

1313

percent and the​ market's required yield to maturity on a​ comparable-risk bond is

1414

percent.

The value of the bond is

​$nothing.

​ (Round to the nearest​ cent.)

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