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#7 Assume a par value of $1,000. Caspian Sea plans to issue a 16.00 year, semi-annual pay bond that has a coupon rate of 7.90%.

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#7 Assume a par value of $1,000. Caspian Sea plans to issue a 16.00 year, semi-annual pay bond that has a coupon rate of 7.90%. If the yield to maturity for the bond is 8.14%, what will the price of the bond be? Submit Answer format: Currency: Round to: 2 decimal places

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