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A coupon bond pays interest semi-annually, matures in 10 years, has a par value of $1,000, a coupon rate of 12%. Other bonds, with similar

A coupon bond pays interest semi-annually, matures in 10 years, has a par value of $1,000, a coupon rate of 12%. Other bonds, with similar risk, pay an effective annual rate of 19% to their investors.

What is the price the bond should sell for today?

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