Question: 7. Boliver Basic Industries (BBI) issued $1,000 12-year bonds 3 years ago. The bonds make quarterly coupon payments and have a coupon rate of 8%.

7. Boliver Basic Industries (BBI) issued $1,000 12-year bonds 3 years

7. Boliver Basic Industries (BBI) issued $1,000 12-year bonds 3 years ago. The bonds make quarterly coupon payments and have a coupon rate of 8%. Bonds of similar risk and maturity offer a yield-to-maturity of 7% APR (compounded semi-annually). What is the value of a BBI bond

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