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A Ford Motor Co. coupon bond has a coupon rate of 6.9%, and pays annual coupons. The next coupon is due tomorrow and the bond
A Ford Motor Co. coupon bond has a coupon rate of 6.9%,
and pays annual coupons. The next coupon is due tomorrow and the bond matures 32
years from tomorrow. The yield on the bond issue is 6.2%.
At what price should this bond trade today, assuming a face value of $1,000?
The price of the bond today should be $___.
(Round to the nearest cent.)
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