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A 14-year bond with semi-annual coupon payments is currently trading at a yield-tomaturity of 7.2%. Assuming the face value of the bond is $1,000 and

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A 14-year bond with semi-annual coupon payments is currently trading at a yield-tomaturity of 7.2%. Assuming the face value of the bond is $1,000 and the coupon rate is 3 percent, calculate the price of this bond. (Round your answer to two decimal places, such as 12.34 )

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