Question: A bond pays a $50 coupon at the end of each of the next 30 years and pays $1,000 face value in 30 years. If

A bond pays a $50 coupon at the end of each of the next 30 years and pays $1,000 face value in 30 years. If you discount cash flows at an annual rate of 6 percent, what would be a fair price for the bond?

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