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25 Assume a par value of $1,000. Caspian Sea plans to issue a 16.00 year, annual pay bond that has a coupon rate of 7.97%.

25 Assume a par value of $1,000. Caspian Sea plans to issue a 16.00 year, annual pay bond that has a coupon rate of 7.97%. If the yield to maturity for the bond is 8.44%, what will the price of the bond be?

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