(Answered)-You have just noticed in the financial pages of the local - (2025 Updated Original AI-Free Solution

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Question

You have just noticed in the financial pages of the local newspaper that you can buy a bond ($1,000 par). If the coupon rate is 2.4 percent, with annual interest payments, and there are 19 years to maturity, What should the purchase be valued at if your required return on investments of this type is 10.4 percent?