Question: 1 . A corporate bond with a 1 5 - year maturity, par value of $ 5 0 0 0 , and 6 % interest

1. A corporate bond with a 15-year maturity, par value of $5000, and 6% interest payable semiannually (semi-annually) was purchased 8 years ago for $7000 and has received 16 interest payments to date. If an investor wants to buy this bond at this time and earn an expected return of 4% per semiannual period, how much should he buy the bond for now?

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