Bond valuation - Quarterly interest Calculate the value of a $1.000-par-value bond paying quarterly interest at an annual coupon interest rate of 12% and having 11 years until maturity if the required return on similar-risk bonds is currently a 16% annual rate.

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A: Journal: Recording of a business transactions in a chronological order.

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A: Data given: Loan amount is $15,000 Nominal interest rate is 11% n= 1 year

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