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A bond has a $1,000 par value, 13 years to maturity, and a 5% semiannual coupon and sells for $925. Assume that the yield to
A bond has a $1,000 par value, 13 years to maturity, and a 5% semiannual coupon and sells for $925. Assume that the yield to maturity remains at 5.83% for the next 3 years. What will the price be 3 years from today? Round to TWO decimal places.
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