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22 #1 Assume a par value of $1,000. Caspian Sea plans to issue a 2.00 year, annual pay bond that has a coupon rate of

22 #1

Assume a par value of $1,000. Caspian Sea plans to issue a 2.00 year, annual pay bond that has a coupon rate of 6.00%. If the yield to maturity for the bond is 6.0%, what will the price of the bond be?

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

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