Question: Please answer by first giving the right formulas (without numbers) and then computing the numerical answers and results. MGM-Mirage Corporation bond pays a 14.5% coupon

Please answer by first giving the right formulas (without numbers) and then computing the numerical answers and results.

MGM-Mirage Corporation bond pays a 14.5% coupon on a semi-annual basis. What is the value of this bond if it matures in 16 years and the market rate is 11%?

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