Question: As with most bonds, consider a bond with a face value of $1,000. The bond's maturity is 21 years, the coupon rate is 15% paid

As with most bonds, consider a bond with a face value of $1,000. The bond's maturity is 21 years, the coupon rate is 15% paid semiannually, and the discount rate is 9%.

What is the estimated value of this bond today?

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