Question: What is the maximum price you would pay for a bond if its minimum acceptable rate of return (MARR) is 7%, the face value of

What is the maximum price you would pay for a bond if its minimum acceptable rate of return (MARR) is 7%, the face value of the bond is $25,000, and the coupon rate is 3% paid semi-annually and the bond will mature ? in 20 years.

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