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A $ 1 , 0 0 0 municipal bond is priced at 1 0 1 3 / 4 . The bond is callable this month

A $

1, 000

municipal bond is priced at

101 3 / 4 .

The bond is callable this month at

103

and is putable at

97 .

If an investor is considering purchasing this bond, he would pay:

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