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A semiannual coupon bond with face value of $1000 has a coupon rate of 7% and matures in 11 years. The market-determined discount rate on

A semiannual coupon bond with face value of $1000 has a coupon rate of 7% and matures in 11 years. The market-determined discount rate on this bond is 12%. What is the price of the bond? Round to the penny.

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