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7-4: Bond Yields A bond has a $1,000 par value, 20 years to maturity, and a 5% annual coupon and sells for $860. b. Assume

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7-4: Bond Yields A bond has a $1,000 par value, 20 years to maturity, and a 5% annual coupon and sells for $860. b. Assume that the yield to maturity remains constant for the next 3 years. What will the price be 3 years from today? Round your answer to the nearest cent

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