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A bond has face value of $1000 and a coupon rate of 6.5%. The bond has 28 years to maturity and pays interest semiannually. The

A bond has face value of $1000 and a coupon rate of 6.5%. The bond has 28 years to maturity and pays interest semiannually. The market rate for bonds of this risk is currently 7.25%. What should this bond sell for?

Group of answer choices

$867.25

$978.98

$1,000

$941.07

$910.64

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