Question: Consider a 32-year bond with face and redemption value $12680, a nominal annual coupon rate of 6% compounded semiannually, and a nominal annual yield of

Consider a 32-year bond with face and redemption value $12680, a nominal annual coupon rate of 6% compounded semiannually, and a nominal annual yield of 1% compounded semiannually. Determine the book value after 21 years.

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