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A 30-year, $17,000 bond redeemable at par has 8.0% coupon paid semi-annually. The coupon can be reinvested at 6.5% compounded semi-annually. If the investor realised

A 30-year, $17,000 bond redeemable at par has 8.0% coupon paid semi-annually. The coupon can be reinvested at 6.5% compounded semi-annually. If the investor realised a return 7.0% annually over the 30 years, determine the price of the bond.

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