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A bond has 7 years to maturity, an 8 percent coupon, a $ 1 , 0 0 0 face value, and pays interest semiannually. What

A bond has

7

years to maturity, an

8

percent coupon, a $

1, 000

face value, and pays interest semiannually. What is the bond's

current price if the yield to maturity is

7.32

percent?

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