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26. Assume that Bunch Inc. has an issue of 20-year $1,000 par value bonds with 7% of annual coupon rate. The coupon is paid semi-annually.

26. Assume that Bunch Inc. has an issue of 20-year $1,000 par value bonds with 7% of annual coupon rate. The coupon is paid semi-annually. Further assume that today's Yield to Maturity (YTM) on these bonds is 5%. How much would these bonds sell for today?

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