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A bond has face value of $1000 and a coupon rate of 11%. The bond has 4 years to maturity and pays interest semiannually. The

A bond has face value of $1000 and a coupon rate of 11%. The bond has 4 years to maturity and pays interest semiannually. The market rate for bonds of this risk is currently 8%. What should this bond sell for?

Group of answer choices

$1,000

$1, 065.45

$1,100.99

$1,021.17

$980.05

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