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A 5-year par value bond with semi-annual coupons is purchased at a nominal rate of 6% converted semi-annually. The bond can be called at par

A 5-year par value bond with semi-annual coupons is purchased at a nominal rate of 6%

converted semi-annually. The bond can be called at par value of 1200 on any coupon date

starting at the end of year 4. It is priced to yield at least a nominal rate of 4.7% converted

semi-annually. What is the price of the bond?

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