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A 4-years security had annual coupon of 10%. The interest rates in years 1, 2, 3 and 4 respectively are: 9%, 10%, 11% and 12%.

A 4-years security had annual coupon of 10%. The interest rates in years 1, 2, 3 and 4 respectively are: 9%, 10%, 11% and 12%. What is this bond price, per $1000 par?

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