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7.8) Nesmith Corporation's outstanding bonds have a $1,000 par value, a 10% semiannual coupon, 8 years to maturity, and a 12% YTM. What is the

7.8) Nesmith Corporation's outstanding bonds have a $1,000 par value, a 10% semiannual coupon, 8 years to maturity, and a 12% YTM. What is the bond's price? Round your answer to the nearest cent. $

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