Question: 8. Bond X is a 12-year $2000 par value bond with a coupon rate of 10%. If interest rates dip, after 2 years, to 8%,

8. Bond X is a 12-year $2000 par value bond with a coupon rate of 10%. If interest rates dip, after 2 years, to 8%, what is the current value of the bond?

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