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Mona design wishes to estimate the value of its outstanding 25-year bond with the following features....

Mona design wishes to estimate the value of its outstanding 25-year bond with the following features. The annual coupon rate for the first 10 years will be 5% of the face value of 1000. After 10 years, the annual coupon rate will increasse to 8% for the remaining 15 yesrs. what is the value of this bond, if Mona design is rated BBB. (BBB rated bonds are trading at a default spread of 0.75% over the Treasury bond rate of 7%) (solve using financial calculator)
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