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What is the ending value of the bond

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You buy an 8% annual coupon bond from CARRIS Inc. that has a 25 year maturity and a required return of 12%. The par value is $1,000. You sell the bond five years later when the required return is 10%. What is the ending value of the bond when it is sold (to the nearest dollar)?

1) $889

2) $928

3) $1,000

4) $830

Reference no: EM13342597

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