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A corporate bond has 23 years to maturity, a face value of $1,000, a coupon rate of 5% and pays coupon twice a year. The

A corporate bond has 23 years to maturity, a face value of $1,000, a coupon rate of 5% and pays coupon twice a year. The annual market interest rate for similar bonds is 3%. Part 1 Attempt 1/3 for 10 pts. What is the price of the bond (in \$)

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