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A bond offers a coupon rate of 2%, paid annually, and has a maturity of 19 years. The current market yield is 10%. If market
A bond offers a coupon rate of 2%, paid annually, and has a maturity of 19 years. The current market yield is 10%. If market conditions remain unchanged, what should the price of the bond be in 1 year?
Enter your answer in dollars, without the dollar sign ('$'), and rounded to the nearest cent (2 decimals).
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