The R. T. Ely Corporation issued bonds at par on January 1, 1995, with a face value

Question:

The R. T. Ely Corporation issued bonds at par on January 1, 1995, with a face value of $1,000, an original maturity of five years and a coupon rate of 5% (paid annually). What is the price of one Ely bond on January 1, 1998 if Ely bonds are priced to yield 6%?

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