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A Company has a bond outstanding with a face value of $1000 that reaches maturity in 4 years. The bond certificate indicates that the stated

A Company has a bond outstanding with a face value of $1000 that reaches maturity in 4 years. The bond certificate indicates that the stated coupon rate for this bond is 5% and that the coupon payments are to be made semiannually. Assuming the appropriate YTM on the bond is 1.5%, then the price that this bond trades for will be closest to ________.

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