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A $1000 par value bond will mature in 10 years. This bond has a coupon rate of 8% and pays semiannually. If the market interest

  1. A $1000 par value bond will mature in 10 years. This bond has a coupon rate of 8% and pays semiannually. If the market interest rate is 7% percent, what is the current price of the bond?

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