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A company issues a 1 0 - year $ 1 , 0 0 0 face value bond at par with a coupon rate of 6

A company issues a 10-year $1,000 face value bond at par with a coupon rate of 6.1% paid semiannually. The YTM at the beginning of the third year of the bond (8 years left to maturity) is 8.1%. What is the current price and then the new price of the bond at the beginning of the third year? (Show your work)

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