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3. An investor purchases a discount bond that promises to payout $4,400 exactly 5 years from today. Assume the interest rate is 8.5% and that

3. An investor purchases a discount bond that promises to payout $4,400 exactly 5 years from today. Assume the interest rate is 8.5% and that the investor holds the bond for 3 years and then sells it prior to maturity. In this case, at the date the investor sells it, what will the market price be?

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