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21 #3 Assume a par value of $1,000. Caspian Sea plans to issue a 9.00 year, annual pay bond that has a coupon rate of

21 #3

Assume a par value of $1,000. Caspian Sea plans to issue a 9.00 year, annual pay bond that has a coupon rate of 7.99%. If the yield to maturity for the bond is 8.34%, what will the price of the bond be?

Answer format:Currency: Round to: 2 decimal places.

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