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A $4,000,000 issue of nine-year bonds redeemable at par offers 7% coupons payable semi-annually. What is the issue price of the bonds to yield 7.5%

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A $4,000,000 issue of nine-year bonds redeemable at par offers 7% coupons payable semi-annually. What is the issue price of the bonds to yield 7.5% compounded monthly? The issue 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.)

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