Question: As with most bonds, consider a bond with a face value of $1,000. The bond's maturity is 7 years, the coupon rate is 11% paid

As with most bonds, consider a bond with a face value

As with most bonds, consider a bond with a face value of $1,000. The bond's maturity is 7 years, the coupon rate is 11% paid annually, and the market yield (discount rate) is 7%. What should be the estimated value of this bond in one year? Assume the market yield remains unchanged

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