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A $120,000 bond bearing interest at 8% payable semi-annually is bought eight years before maturity to yield 7.2% compounded quarterly. If the bond is

A $120,000 bond bearing interest at 8% payable semi-annually is bought eight years before maturity to yield 7.2% compounded quarterly. If the bond is redeemable at par what is the purchase price? The purchase price of the bond is (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed) 605

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