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A $80,000 bond bearing interest at 3% payable annually is bought seven years before maturity to yield 2.4% compounded quarterly. If the bond is redeemable

A $80,000 bond bearing interest at 3% payable annually is bought seven years before maturity to yield 2.4% compounded quarterly. If the bond is redeemable at par, what is the purchase price? The purchase 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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