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A corporate bond has a semi-annual interest payment of $40 and will pay $1,000 when it matures in 10 years, How much should you pay

A corporate bond has a semi-annual interest payment of $40 and will pay $1,000 when it matures in 10 years, How much should you pay for the bond if the current interest rate is 6.5% compounded semi-annually? Format answer as follows: $XXXX.XX

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