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A semiannual coupon bond with face value of $1,000 has a coupon rate of 8% and matures in 16 years. The market-determined discount rate on

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A semiannual coupon bond with face value of $1,000 has a coupon rate of 8% and matures in 16 years. The market-determined discount rate on this bond is 11%. What is the price of the bond? Round to the nearest cent (one-hundredth). Do not include the dollar sign (\$)

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