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A 21-year German government bond (bund) has a face value of 550 and a coupon rate of 4% paid annually. Assume that the interest rate

A 21-year German government bond (bund) has a face value of 550 and a coupon rate of 4% paid annually. Assume that the interest rate (in euros) is equal to 7.10% per year. What is the bond's PV? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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