Question: Fancy Food, Inc. has issued a bond with par value of $1,000; coupon rate of 9 percent paid semi-annually, and matures in 10 years. What

Fancy Food, Inc. has issued a bond with of $1,000; rate of 9 percent paid semi-annually, and matures in 10 years. What is the value of the bond if the required rate of return is 12 percent?

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