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Part $1$

$($Bond

valuation$)$

$$Hamilton$,$ Inc. bonds have a coupon rate of

$9$

percent. The interest is paid$$ semiannually, and the bonds mature in

$12$

years. Their par value is

$$$$1,000.$

If your required rate of return is

$13$

$$percent$,$ what is the value of the$$ bond? What is the value if the interest is paid$$ annually?