Abbot Enterprises issued a bond having a par value of $1,000, a 7 year life and a 12% coupon rate. If interest is paid annually and the discount rate is 14%, what is the value of the bond?

Abbot Enterprises issued a bond having a par value of $1,000, a 7 year life and a 12% coupon rate. If interest is paid annually and the discount rate is 14%, what is the value of the bond?

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