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Due to a number of lawsuits related to toxic wastes,a major chemical company has recently experienced a market revaluation.The firm has bonds outstanding that were issued 8 years ago at their par value of $1,000.These bonds have 12 years to maturity and a coupon rate of 6 percent,with interest paid semiannually.The required return on these bonds has increased to 14 percent.What is the current value of one of these bonds?
ADA
The Americans with Disabilities Act, legislation in the United States aimed at preventing discrimination against people with disabilities.
HIPAA
The Health Insurance Portability and Accountability Act, a federal law in the United States that sets standards for the protection of sensitive patient health information.
GPS
GPS, or Global Positioning System, is a satellite-based navigation system that allows any user with a GPS receiver to determine their precise location (latitude, longitude, and altitude) anywhere on Earth.
CAM
Computer-Aided Manufacturing, a technology that utilizes computer software and machinery to facilitate and automate manufacturing processes.
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